Yep. Or at least that's how much it was 10 years ago when someone I knew didn't vote and purposefully stayed home. Could be a bit more than that now. I think the money goes to the electoral commission and is redistributed as election funds to parties on the next election. Happy to be corrected on that point, though.

We also have preferential voting, which means there's more than 100 people to vote for. You can pick your top 12 or number every single one in order of preference. This means that your vote counts for something in the end, so there's no feeling of having your vote wasted if "your side" isn't elected.