The final laws for NSW haven't been released yet. As Lmichie said, they will be a bit more relaxed than the current laws and will allow 50mm in suspension + larger tyres.
Engineer's certificates are already becoming a lot cheaper and easier to obtain for correctly modified vehicles.
A big problem with the 4WD industry is that a lot of companies haven't told customers what modifications actually need to be engineered. From suspension to accessories, a lot of the laws are already in place but not being followed.
For example, the majority of long range fuel tanks have to be engineered.
The Hilux comes standard with a 76L tank and a few replacements are around 140L mark (186% the original size). 1 in 3 Hiluxs we work on are fitted with a long range tank of some description. Virtually none of them have been engineered.
We put a lot of vehicles through engineering for suspension modifications (e.g. lifts above 50mm and GVM upgrades) and note down all of the modifications like long range tanks on the one report. It normally costs around $800 and covers the lot. When you look at how much money goes into building up a modern 4WD, $800 to keep it legal and ensure it's safe is not a lot of money.