For once I agree with you Dick, this is an unecessary cost for Australian pilot's!
Most working pilot's are covered by CAR 217 anyway and have more than enough proficiency checks! For those who fly for pleasure, or not as primary employment this could be covered by the BFR, a la the PIFR.
PS: The US currency is more practical too! We have to do an ILS every 35 days which most could do with there eyes closed, yet an NDB only every 90 days...