Jason,
Ignore the fellow Australian lurkers here who are taking the mickey out of you, as there is a grain of truth to what you have been told.
The funnel web spider, found only in NSW, is the world's most dangerous arachnid. Far from being terrified of you, they are aggressive bastards, and yes, they are big (a subjective opinion, I realise) and hairy, probably very similar to a tarantula. There have also been known to hide in shoes, luggage, clothing etc. Whilst it is highly doubtful that anything will happen, yes, it is possible, although the antivenom is easy to get hold of.
As for snakes, they too are plentiful at certain times of the year, especially in hot, open areas where there is water around. Again, though, it is highly doubtful that you will encounter one on the golf course, or your wife walking around the city. If you go to a barbie at someone's home, though, that is another matter entirely. Doubtful, but it is possible - and since some snakes can move faster than you can run... Of course, they do only attack if threatened, but I've never gone close enough to one to notice if the whites of his eyes were showing.
Chris is right about one thing, though - I guess he has to be occasionally - you are far more likely to get injured in a car accident, especially in Victoria, as my fellow motorists are feet down the worst drivers in the world. You'll positively look forward to a hairy eight-legged arachnid sinking its fangs into your big toe after a couple hours driving here.