Race/rally use vehicles
If a car is intended for race or rally use (i.e. the car will not be registered for road use) and the owner importing the car can prove this (such as having participated in race/rally events previously) it is permitted for import. Under the Race/rally import rule there is no restriction on the model of car which can be imported or its condition (for example any modifications are ok).
To be eligible the importer must be able to prove that they have entered race/rally events previously and they must hold a current national level CAMS license that exceeds level 2 (a level L2S or L2NS Cams license is usually not high enough to get race/rally import approval, unless you have a lot of past track history). If you do not meet these requirements you cannot bring in a car for race/rally use.
Once in Australia race/rally imports can be used in any manner including stripping them for parts, however the chassis can never be complied or registered for normal road use.