Hi Stephanie
welcome to the forum.
Egg donating is an extremely BIG decision to undertake, so rather than try and donate as soon as possible. Please do your research and find out as much information as possible first.
It is also not without possible serious side effects which need to be weighed up. As you mentioned it has occured where the donor has become sterile afterwards, there is a problem called Ovarian hyperstimulation syndrome which can have a rainbow of effects (a quick google will give you some info on this). One thing that is not well researched is the effects of the large doses of hormones. As a scientist I know that hormones have the possible affect of inducing cancers, however we don't have a lot of data linking fertility treatment drugs to cancer as there is not a lot of follow up with donors a year or two or more down the track. This is not meant to scare you off, just to show that things aren't without risks, just as many drugs and treatments have risks.
As Fiona has correctly stated you will not get paid for donating but your medical expenses will be covered.
Under NH&MRC guidelines the child born will be entitled to know who you are once they reach the age of 18.
Currently there is a Federal Inquiry underway investigating donor conception practices so the whole thing could change dramatically which is another thing to consider.
Western Australia changed their legislation relatively recently, please also look in the following thread which contains info that Caroline Lorbach from the Donor Conception Support Group kindly put together on legislation in the various states:
http://australiandonorconceptionforum.org/index.php?topic=41.0The clinics in your state will provide counselling so that you are aware of the procedure, responsibilities, possible adverse reactions etc.
Regards
Damian