Is there anything I can do or will that mean I am basically stuck with this degree as I'll be dropping my MTH1010 unit?
You could beg a subject coordinator to be allowed in this late (probably unlikely though).
Do a winter/summer unit.
Do 3 this semester, then full time, transfer in third year.
Maybe do a unit on Open Universities Australia if it can be credited by Monash.
Try and do a single unit at another uni (you pay for it), next semester (whilst full time at Monash), if it can be credited by monash. (I can't guarantee this is possible).
Probably other options which I don't know of.
*Don't follow my advice without double checking it first or you may stuff up your degree*. But really, your issue isn't such a big deal, not something which hasn't happened before to someone.
You should speak to someone at uni about it, because they can give actual reputable advice.