Yup. We all work 40 hours weeks; 8 hours a day for five days each week. My company only gives us 3 weeks of paid vacation, two 'personal days off' and unlimited sick time, though it you abuse that 'privilage' they will make you financially pay for your time off. You can take days off without pay, but I don't see the point in that.
This is quite similar to us I suppose.
One difference is that as an Australian we are expected to abuse the "sick days" we are given
I agree that there isn't too much need to take unpaid days off. My wife took a year off unpaid when we visited the UK for a year, and then returned to her job when we got back.
I think it should be a three day working week, four days off, or alternatively two months on full time and two months off full time.