According to The Courier:
"Under the new "hoon legislation", police may impound vehicles for offences including participation in a race or speed trial; dangerous driving committed in circumstances involving intentional loss of traction; careless driving; causing a motor vehicle to make excessive noise or smoke; exceeding the speed limit by 45kmh or more or driving while disqualified."
Thatsa spicy meatball of offenses right there. But according to pro-anti-hoon forces, officers must be specially trained to confiscate vehicles, and in some cases, a notice of surrender may be issued. Gotta keep those fackin' 'ouns off the road somehow.
Hoon cars to be seized by trained officers [The Courier, Australia]
More hoons [Internal]