Squatting has always been against the rules and grounds for cancellation.
The latest changes are tightening the eligibility criteria. I won’t enumerate them, https://www.auda.org.au/policy/au-domain-administration-rule..., §2.4.4 (Eligibility and allocation criteria → com.au and net.au namespace) is pretty approachable. Under those rules (and again, pjg.com.au is currently tied to the legacy rules, not these ones), pjg.com.au fails to satisfy any condition in sub-paragraph 2.4.4(2).
I have chrismorgan.com.au, and my claim for eligibility is actually slightly tenuous; I haven’t registered any business name (something like $40/year if I recall correctly); 2.4.4(2)(a) I slightly surprisingly fail because it cares about legal names, and my first name is legally Christopher, not Chris, so it doesn’t match (they define the term “match”); and so my claim depends on 2.4.4(2)(b), that “chrismorgan” is an acronym of “Christopher James Morgan”—an unusual but linguistically valid interpretation of the word “acronym”, including their definition of it.