A lot of sex. Some scenes, but not all, are done using CGI and camera tricks. Example: You don't actually see a penis go into a girl's mouth when she gives oral sex. You just see the top part of her head going up and down.
The Australian version is heavily modified so no vaginal shots are seen. However throughout the movie, there is a constant flow of close-ups of men's penises ejaculating, all including erect and flaccid.
Several instances of erect penises displayed in full view. In one scene, the main character performs unsimulated oral sex on a man.
The Director's Cut version is extremely explicit, with many closeup shots of vaginal and anal penetration.