I've also have a (very) old 60mm Tasco telescope...was my first scope as a teenager, but it's a metal tube Japanese made 1968 model and the optics are fine. The included eyepieces are garbage, so maybe try something a little more recent with it? If yours is similar, they're not a bad little scope.
Picking the right scope is never simple. No single scope does everything well, so most of us end up with more than one.
+1 for meeting up with a local astro society or group...there are a bunch of them in the Sydney area, but also check the Events/meetings section as there are sometimes meetups of IIS members in or around Sydney too (usually outside, because of the light pollution...).
It's good to meet other astro folk and talk to them and get to see what they're into, you get to see the size and shape of kit, and you get to explore ideas of your own. It's important to think about what you want to see and achieve first and tackle that, as there's always more kit you can buy later
