So the physical CE in North America is what? $130USD? Then they have to pay $40USD for shipping, or is that just Cananda? Let's say that's around $170USD. Our dollar is quite weak at the moment so that amounts to $220AUD. Let's say I'm going to import it via Australia Post's new platform, I'd still have to pay to ship it to their Oregon office then they'd probably charge me around $50-60AUD to get it into Australia (using the latest Kingdom Hearts HD Remaster CE as benchmark).

Australia is in the middle of nowhere, logistics are expensive, our dollar is weak, our government has some crazy import taxes and costs, and of course GST. At this point it doesn't seem too unreasonable, especially when supplied in limited quantities for whatever reason.