Australia is the same as anywhere else, what gear depends on how you want to shoot. I've been to Sydney (heaps of times) and Port Douglas; I think I've only ever used a 24-70 in either of them, and didn't want for anything else.
Same goes for locations really. What do you want to take photos of?
Sydney is a big city, though the CBD is rather concentrated as with all Australian cities. I really enjoy shooting street up there, they love building things out of glass, so there's interesting light bouncing around all over the place. It's also a very busy city, packed with locals and millions of tourists - so there's always something happening. You have to see Circular Quay of course, as 'cliché' as it is, it is still very impressive when you walk into it for the first time... good views from the Botanic Gardens - look up Mrs Macquarie's Chair on Google Maps. Looking back from there lines up the bridge behind the Opera House, and you can also see out across the harbour towards Manly, etc.
Depending on time, there are all-sorts of things to do, as there are anywhere. The coastal walk (or run

) from Bondi heading south to Tamarama, and on to Coogee and beyond, is awesome. They have sculpture competitions along the route as well, I forget if they get left up all year or not. Also, jump on a train (or drive) out from Sydney to the Blue Mountains.
Up at Port Douglas, firstly, don't go expecting anything resembling decent coffee or beer - they don't know what it is. Nautilus Restaurant on Murphy Street was good, a bit fancy and priced to go with it, but nice rooftop setting amongst the palms. I think our best meals were picnics on the beach and the public lawns.
You'll be there in the middle of stinger season, so may want to think twice about jumping in at the beach. The town is OK, but we used it just as a base to go elsewhere - it's closer to the reefs than Cairns, and less s*** than Cairns (everywhere is less s*** than Cairns). We booked a tour to take us out to the Daintree (rainforest). Tours are tours, but it saved a lot of hassle and time. No need for long lenses if you're into wildlife, we almost ran over a juvenile cassowary, and had a 4 foot goanna under our picnic bench. Our tour included jumping in a tinny to explore the mangroves as well, saw some big crocs - easily sniped with the 24-70. Finally, Mossman Gorge was an awesome spot for some freshwater swimming in the rainforest. Very welcome after hiking around in 90% humidity all day.
The Great Barrier Reef you have to go to I suppose. Lots of it is dying from abuse though, the tourist bits are probably worse affected, and they're the areas you get to see of course. Don't forget your seasickness tablets if you're that way inclined, it will be about an hour on the boat each way, and can be choppy. From my sister's experience, you'll see a lot (like a lot) more aquatic critters further down around the Whitsundays. Still, we met one of the huge grouper fish on the GBR, very friendly. You may get to meet George the grouper as well, he comes in to the jetty at Port Douglas for his dinner every night.