Well... I did the same thing

Completed 2 yrs at SLIIT and came to Aus.
Yes, your friends are true in a way machang. It is sort of hard to get a job in Australia without 'good' qualification or working experience. Even some of my friends who have completed Masters degrees are still doing odd jobs.
Having said that,
If you are a good communicator and if your spoken english knowledge is good, and if you are creative - you can get a job after a good try.
Communication is the key when working in Australia especially.
Well.. don't get me wrong here now... I don't want to tell about my achievements.. But just to give you a flavour - I had some 3+ experience working in a training dept in a leading bank in SL. Plus I had some freelance experience in Software engineering/ leadership development attached to Virtusa and IFS. So after coming to Australia, even before completing the basic degree, I got a good job as a consultant in Project management. It's like that machang. If you have the ability to write a better CV and face the interview, you can get a job. (Even if it is hard!)
Microsoft, Cisco, RedHat are the main streams in Aus currently. (Not Java)
CIM, CIMA also will get some sort of an edge. (Well... CIMA - not that much. Because you have to do CPA in Australia to work as an Accountant anyway.) So strongly suggest you to do something like MCSA, CCNA, CCNP, RHCP or something if you don't have any experience.
And don't worry too much about doing odd jobs. Even I have worked as a cleaner for 2 months before getting a job. We in Australia respect each other irrespective of their cultural, religious, occupational background. So don't worry about it. Even now I feel like go and do cleaning during my free time. Because it pays you good. Sometimes better than a desk job

[honest!]
All the best buddy. Is Himadri still there @ SLIIT? She helped me so much