Australian defense budget is 36 billion [1] with a GDP of 1.2 trillion. US defense budget is 600 billion with a GDP of 18 trillion. It is just about the exact same percent of GDP.
If you read the sentence just before it, 2% of GDP is the growth target: "[...] the Defence budget growing to two per cent of GDP by 2020–21". The $36b number is the target value in 2020-2021, not right now. The current US defence budget is 3.1% of GDP.
As a percentage of total government expenditure, Australia spends 6% on defence and the US spends 16%.
Australia's Defence Science and Technology Group, which does science and other research for the military, is funded at about $400 million AUD/year. It's Australia's 2nd largest research organization after CSIRO.