Description from the Australian government website:

Australia's first national Paid Parental Leave scheme starts on 1 January 2011.

The Paid Parental Leave scheme:

• is government funded
• is for eligible working parents of children born or adopted on or after 1 January 2011 - can be transferred to the other parent
• is paid at the National Minimum Wage - currently $570 a week before tax
• is for up to 18 weeks
• can be taken any time within the first year after birth.