The team will reportedly pocket $25,000 each should they win a semi-final and qualify for the World Cup final and stand to gain $100,000 each if they manage to win the Webb Ellis Cup for the first time since 1999.
Under the current collective bargaining agreement, Wallabies players receive a $10,000 match payment if they are nationally contracted while non-Rugby AU contracted players take $12,000 a match.
This new arrangement, struck by Rugby AU and the Rugby Union Players' Association, is a shift away from the all-or-nothing structure of 2015, where players were poised to earn $100,000 if they won but received nothing extra for simply making the title match.
The move expands the total prize pool for players to $5.5 million for the tournament, up from 2015's $4.7 million.
“We believe it's a fair outcome," Rugby AU CEO Raelene Castle said to the Sydney Morning Herald.
“In 2015 the team played extremely well in making it through to the final. Whilst none of the players will be satisfied with anything less than bringing the trophy home, we feel that an achievement like reaching the final deserves recognition for the players.
“That’s why we’ve agreed on a structure that includes recognition for a semi-final win at the 2019 World Cup in Japan.”
This agreed structure is in line with a number of other major Test countries, including New Zealand.
The All Blacks took $150,000 in bonuses for winning the 2015 Rugby World Cup - $35,000 for making the final and then $115,000 each after beating Australia 34-17 in that final.
England led the way with financial incentives in the 2015 tournament with $A26,000 pound match payments and had they won the tournament, any player who featured in all seven matches would have received more than $A354,000 for their part.
The Wallabies open their Test season in Johannesburg on Sunday (AEST) and play their first World Cup match against Fiji on September 21.
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