Crikey !!! Do you have to pay registration on top of that ?
In South Australia, the cost to Register the car for 12 months + 3rd Party Insurance (covers the other people involved) is A$670 a year (it's based on the # of cylinders in the car - 4 or less, 6 or 8+)
Insurance for the car itself is then extra and age based, and currently costs me around $650 a year as well.