Basically;
If you're single it's worth taking. You will come out well ahead due to lower tax rates in Singapore. International flying experience around S.E. Asia, India and China goes down well in the log book. Experience a different culture and do some traveling around, beats SYD-MEL any day. If you watch the expenses and don't spend all your money on the SPGs you'll have a nice little nest egg to take back.
If you're married with no children bear in mind the wife is unlikely to earn as much as she could in Australia unless she has a highly skilled job. Singapore has access to cheap foreign labour and unions are weak eg. Checkout operator in a supermarket S$1200 a MONTH.
If you're married with children, do your sums VERY carefully. An international school will run S$1800-2500 per month, per child. Local schools available for pennies with a good standard but on the British system. See
Singapore Expats - Expat relocation, Singapore property, housing, working, staying in Singapore. Singapore property rental / sale, Singapore apartment for rent, Singapore condo for rent, Singapore house for rent for useful budgeting info.