The logo was launched by Bob Hawke in 1986 and for the first 10 years of its life was managed by the Advance Australia Foundation. These days it's administered by Australian Made Campaign Limited (AMCL), a not-for-profit company, under contract from the Federal Government.
It's a certification trade mark, registered with the Federal Government, and with a strict set of rules (Code of Practice) governing how it can be used. Products must be registered with AMCL and must meet the criteria in the Code of Practice to use the logo.
Australian Made
The product has been manufactured here (not just packaged) and 50% or more of the cost of making it can be attributed to Australian materials and/or production processes.
Australian Grown
All of the product's significant ingredients are grown in Australia, and all, or nearly all of the processing has been carried out in Australia.
Product of Australia
All of the product's significant ingredients come from Australia, and all, or nearly all of the manufacturing or processing has been carried out in Australia.
Australian Seafood
A seafood product in which all of the product's significant ingredients are grown or harvested in Australia and all, or nearly all, of the processing has been carried out in Australia.

Australian
Can only be used in export markets. The product must satisfy the criteria for at least one of the four preceding claims, and not be misleading.