The ACCC seems to be giving conflicting information here.
On the one hand they are saying that due to Covid-19 the normal right to refunds may not always be applicable. But they go on to say 'unless otherwise in the terms of your contract'
- If your travel is cancelled the ACCC expects that you will receive a refund or other remedy, such as a credit note or voucher, in most circumstances.
- However, if your travel is cancelled due to government restrictions, this impacts your rights under the consumer guarantees.
- You may still be entitled to a refund under the terms and conditions of your ticket.
- You should contact the business directly to request a refund or other remedy such as a credit note or voucher.
- The ACCC encourages all businesses to treat consumers fairly in these exceptional circumstances.
The key here is the third bullet point. The Singapore Airlines conditions of carriage, like that of Qantas, provides for a full refund in the event the airline cancels.
Virgin and Jetstar have different conditions where events are outside their control (which Covid is).
So on that basis, ACCC's advice to you is based on bullet #1, and not on bullet #3.
Where does FC fit in to this? That's a different story. I don't believe their contract rules out a full refund where the airline cancels. So you should in theiry be entitled to a refund without any of their fees and charges.
Going back to your link, it does say the following for flights cancelled by SQ:
Unused tickets - if your flight is cancelled:
Options: -
1. Defer travel with final return date of 31Mar21.
2 Refunds
a. Refundable fares: Yes. Standard Fares Rules apply.
b. Non-Refundable fares. Yes. For flight cancellations up to 30Apr20. Processing fee of $200 applies.
i. Please use “Covid19” as the waiver code
I'm not sure how/if that is valid. While EU261 does not apply (it is considered an extraordinary event), my understanding is that EU authorities have determined that a full refund is required. This would seem inconsistent with the $200 processing fee (and given that's in $, I'm guessing that could be Singapore dollars, and be a carry-over from their Singapore terms and conditions?)
The CoC for Australia says they will refund. So I'd be going on that basis. A subsequent policy shouldn't have the effect of overriding the contract you already have with them.