I have an account with Bitinnovate, just a little wary to use them as they are linked to MtGox and I see a lot of negative posts about Gox.
Huh? Bit Innovate doesn't offer "accounts", you pay cash and they send the bitcoins to your wallet directly. Bit Innovate's relationship with Mt. Gox is their problem, not yours; as a Bit Innovate customer, you never deal directly with Mt. Gox and don't need to concern yourself with their problems.I have funds to buy, just don't want to waste some on bad excahnge rates. So I'm hoping there is some other info for an Aussie to buy 
Don't worry too much about the exchange rates. In the long run, Bitcoin is probably going to be worth thousands of dollars or drop to zero, and in either case it doesn't really make much difference whether you bought in at $120 or $130 or whatever. If minor price variations bother you, then you probably shouldn't be buying bitcoins (look at the charts to see why).