These are the NSW exemptions:
"4) Subclause (1) does not apply to a personal watercraft in any of the following circumstances:
(a) while the personal watercraft is operated by Surf Life Saving New South Wales Inc or professional lifeguards for the purpose of undertaking rescues or surf rescue training,
(b) while the personal watercraft is being operated in open waters for tow-in surfing and there are no paddle surfboard riders present, so long as the conditions set out in subclause (5) are being complied with.
(5) For the purposes of subclause (4) (b), the following conditions must be complied with:
(a) the personal watercraft must be equipped with:
(i) a quick release floating tow rope with a minimum length of 7 metres, and
(ii) a two-way communication device, and
(iii) a rescue sled, and
(iv) a second kill switch lanyard wrapped around the handlebars, and
(v) a toolkit, and
(vi) a bow tow-line with a minimum length of 7 metres, and
(b) the operator of the vessel:
(i) must hold a current first aid certificate, and
(ii) must have passed a course or examination approved by the Maritime Authority for the purposes of this paragraph, and
(iii) must carry dive fins and a safety knife on his or her person, and
(iv) must give right of way to all other boating and recreational activities, and
(v) must remain at least 200 metres from all other vessels and persons in the water, and
(vi) must not tow more than one person at a time, and
(c) in a case where the personal watercraft is being operated for tow-in surfing, the surfboard rider:
(i) must hold a current personal watercraft driving licence, and
(ii) must hold a current first aid certificate, and
(iii) must wear an appropriate lifejacket, and
(iv) must have passed a course or examination approved by the Maritime Authority for the purposes of this paragraph"
There's an awfull lot of compliance to gain an exemption.
Haven't heard about any similar exemptions in Qld. It's still viewed as waterskiing as far as I know.