So, I'm not sure what it's like at other universities, but at ANU all the academics are divided up into being part of the teaching school or part of the research school. Both types do research, and teaching staff are allowed to take time off every few years or so for research. The teaching staff have to take on a certain amount of classes per semester, usually 2 or so and they have to mark and lecture. Teaching loads increase if they don't meet publishing requirements (I think they're supposed to publish 2 papers per year?). Research school people, as the title suggests, just do research. They will usually work on a specific project or in a specific research school. I'm not sure but I guess they'd be required to publish quite a lot.
In terms of salary - superannuation is always very good in Australia, about double of the minimum requirement. I think salaries probably start at around $60,000 and it goes up by shit loads, comfortably 6 figures if you have some kind of senority (which usually takes ages). It's worth looking at The Australian's education supplement and the kinds of jobs/salaries that are there.
Usually you would start your academic career whilst still doing a higher degree - you'd publish papers while writing your PhD thesis, and you could start tutoring classes by third year undergrad, and at some universities you may be given the opportunity to lecture while you're doing a PhD or even Masters. After getting a PhD, it's a good idea to go to a different uni to work (otherwise you become permanently affiliated to your supervisor). You would most likely get a postdoctoral research position/fellowship, that's probably the most common path to actually getting a position at a university. If you've do a lot of good work then you will get tenure, which means that you're granted some kind of permanent status at the university and you become very difficult to get rid of. At this point, you go insane.