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what should i buy?

Asking here, you'll probably be recommended a fender J or P bass, a EBMM Stingray or whatever the other popular model is, or an Ibanez. (plenty of others but those seem to be the ones that stand out).

My advice, and the advice of most others on here is to go to a music shop and try out for yourself!
 
Buy used (see TB classifieds). An MIA Fender P or J, EBMM Stingray, US G&L L-2000 or SB2, Spector ReBop, Warwick Corvette, Lakland Skyline 44-02, etc.

There are a ton of good options (especially used) in this price range. There will be far fewer good choices in this range if you buy new.

What do you like? Go play some basses and see what speaks to you.
 
I'll +1 the TB Classifieds. I purchased my Musicman Stingray 5 from there and it has been my main go-to bass ever since (although there was a bit of a hiatus while I had it modified quite a bit). I also got my Carvin fretless in a trade through the classifieds and couldn't be happier with it. There are definitely treasures to find on there, but even if it's not some super amazing "buy now buy now buy now" deal, you will still be getting an amazing instrument from someone who has taken care to make sure that you know what you are purchasing. :D
 
Keep in mind that all of the responses posted are prices for basses in the USA, not Australia. From what I've learned from Aussie TB'r's, your prices are much higher. Take the prices quoted (in USD) and add at least 50% to get an equivalent AUD price.

I could be wrong, but from memory, the prices quoted here are way below the Australian market.