The reason they killed them is because transfer fees are pretty much illegal in Australia.
You'd either need to find a loophole to bring them back in a form unique to the Australian market, or hope that nobody challenges it and that the government turns a blind eye like they do with AFL's draft (drafts are also legally ambiguous in Australia).
No the reason they killed it was because of the SL war. Up until then it was fine. How is it illegal in Australia when the fees are being paid outside of it? It is no different to buying out a contract.