covered by medicare, currently you can get 52 sessions with a psychiatrist per year and 12 sessions per year, plus an extra six in extreme cases, with a psychologist on referral by a general practioner. There are community support services as well. The public health system is still underresourced and overworked, but the private system is pretty good (mind you that's the patients who are generally functioning in society to the extent that they can afford private healthcare. The 'problem' patients generally end up in the public system, rather like our private school system).
That being said there is still a strong stigma attached to mental illness in Australian society. I won't be mentioning my schizoaffective disorder in job interviews. I am lucky in a way that I have enough physical disabilities so that I can cover for the time I have had away from work on the disability pension. I feel a little guilty as I am sort of letting the side down, when I could be shouting it load and proud and doing my bit to remove the stigma, but I want to be able to get a job in a library in the future.
Believe me I know how lucky I am to live in a reasonably sane and just society where discrimination is illegal and healthcare is a right. I've been through some brutal times, but if I had to survive in the US I don't know if I could have made it so far.
Oh yeah here a couple of sites for your edification on depression from down under
http://www.depnet.com.au the australian branch of depnet.com a european initiative
http://www.beyondblue.org.au an australian inititive to get the depression message out there. (the current director was the conservative premier of Victoria an egotistical prig, but don't let that put you off.)
edit for linkies I am so sloppy