You are definitely on the right track. West Australia is paying good money as well at the moment. The trouble for aviation and especially helicopters, the contract goes to the lowest bidder. The lowest bidder in turn pays the pilots and mechs low pay.
The low pay then attracts newcomers wanting a foot in the aviation door to start in what is a hard industry to get started in. This is fine for people just starting off in an aviation career but squeezes more experienced people to move on to different industries.
Looking at my own licence there is no renewal date, which is good. The aviation industry is feast and famine and I reckon more than a few people have finished because of not having enough work experience in the previous two years when CASA was on the two year system of renewal.