I do think the rules are more relaxed down here. Australia's Next Top Model used to be on at the same time as TGA, and they don't edit out the f-word...but they may be tougher on free to air channels like Nine.
We don't have a 'watershed' like the UK, nor rapid hefty fines for broadcasters like the US, for language. 'MA15+' (unsuitable for people under 15 years of age) content is not allowed to be aired before 9pm, but that is mostly defined by violence and sex, rather than language.
Even our Prime Ministers have been heard dropping colourful phrases on prime-time national television - the most-recently departed snuck "shitstorm" in.
However, the biggest potty mouth of them all (and a Pom at that!) Gordon Ramsay provoked a several inquiries into televised swearing, resulting in the media authority's review of the free-to-air code of practice.