I found this useful summary (below) on the C2ES website. It is clearly not as simple as the BC approach, but it is largely recycled to households and industry.
Over 50 percent of revenue generated from the carbon price is returned to households, particularly low-income ones, through tax relief and greater family benefit payments;
Revenue generated by the program, along with additional government resources, will be used to ease the impact on trade-exposed industries and workers, and boost investments in renewable power, energy efficiency and other low-carbon alternatives;
Implementation of the plan is expected to cost the government AUD 4.3 billion over the first four years, over and above revenue generated.