@ibaird @WendyEM I have consulted with David Lane, who notes the following, "it looks like Syntherata escarlata - the locality supports this record as I have specimens from the Eungella region also. The forewing eyespot is not necessarily a diagnostic feature as the size is somewhat variable and similar to S pseudescarlata"
@ibaird On reading, Lane, Edwards & Naumann, 2010. A Revision of the Genus Syntherata, I think this has to be Syntherata escarlata; based on location and the shape of the apex of the forewing.
@TathraPreschool : I hope you can keep this to see if tiny flies or wasps or grubs emerge in due course from the white things. I suggest you put it in a clean jar with a fabric cover held by an elastic band, and watch it daily to see what happens.