You are correct in your guess
we have them in Australia too.
GOLDEN ORB WEB SPIDERS (Nephila
insignis), family Tetragnathidae
The golden orb web spider builds enormous circular
webs in gardens, orchards and rainforests (monsoon
vine thickets). Webs are built by the female and are
made of golden yellow silk which is quite strong and
effective in catching flying insects. The female is up
to 45 mm in body length. The cephalothorax (the
united head and thorax) is black in colour while the
abdomen is brown to olive brown. The female has
black legs with yellow or orange bands at the joints.
The male is much smaller, about 6 mm in length and
is orange with large palps. Despite her size, the
female is very gentle and rarely bites