There are up to 7 different species of wood borer beetles in Australia. The term wood borer covers all of these. Adult beetles lay their eggs in joins and gaps in wood/timber. This generally wont cause an issue outside however inside your home or business they might infest floorboards, furniture, wooden beams and any other wooden objects. Larvae can seriously weaken the timbers in a building.
If left untreated, this may lead to structural failure. You will generally identify that you have a Borer issue if you see small holes in timber work or the wood has become quite powdery. Treatment of Wood Borer can vary depending on the location of the issue.