Qantas have provided details of their compensation for victims of the grounding who are not Australian residents. Travellers affected by the grounding will be able to claim a voucher worth the equivalent of $250 (Australian). The voucher can only be used towards the cost of future travel with Qantas. (In other words it cannot be exchanged for cash or anything else.)
This applies only for travel that originated outside Australia.
The fixed value in various currencies (not subject to exchange rate fluctuations):
The currency conversion was done on 25 November 2011. The applicable rules are available at the following link, and if you are so inclined you can also book a flight right away: http://www.qantas.com.au/