To be honest, i think you could get a perfectly safe reliable car for half of that 40grand - being another aussie id say dont buy new but instead get a aussie car thats 3-4 years old, like a 2004ish commodore/falcon/magna (imported cars from europe or asia generally means higher price's from the start). Buying new will just lose its value too much over its first 3 years, and the next person to buy it off you isnt going to want to pay as much for a car thats been owned by a P Plater (that stigma of "oh they have probably thrashed it" etc.)
Any of the those three cars are quite reliable and safe, with solid 6cyclinder engines that can live up to quite a lot of use without many dramas. Is the reason why they are bought so often as family cars.
Then you would have 20grand left from that budget to pay for a few years licencing /insurance etc and to get an extended warrenty on the car you buy (if available) - also that would leave enough for you to get an old cortina or something to play with as a "project car" while still having the other car safe reliable transport.
Thats my 2cents anyway