Thanks for the responses guys!
I spoke to a few Toyota dealers in Sydney, all the workshop/service managers basically told me that if the steering wheel has the SRS airbag symbol, it should have the airbag light.
That is just a generic statement from them, as they didn't actually check anything.
I spoke to the parts team and they actually checked the VIN and could not find details for an airbag, I did request an email from them but they have not sent one yet.
My last option is to have the inspector take off the wheel and check, but I prefer if they didn't - it will also cost some $$ for their labour.
My inspector suggested that I take my car to Toyota to have a look - but I believe they will also take off the wheel and charge me.
They already charged me $50 to clean the engine number to be visible. This is the most expensive inspection I've had yet.
NSW blue slips seem to be quite strict.