That clears it all up. Thank you A1 )You hear different things because people use the word cut-off differently or incorrectly. Strictly speaking a cut-off value only makes sense when it's the sole/main deciding factor, for example UCAT score for JMP interview selection - last year it was 2980 meaning 2980+ you get an invite, sub-2980 you don't.
Otoh ATAR is not the sole deciding factor for UNSW. It's in combination with UCAT and interview score. A 99.2/98%ile can get an interview while a 99.4/88%ile might not, thus neither 99.2 nor 99.4 is truly a cut-off. Similarly for place offers.
So to answer your question, you need mid to high 99s to be competitive for UNSW. The lowest ATAR (not counting bonus) that got an offer last year was 99.6, but that didn't mean all sub-99.6s had zero chance at the outset. A 99.4 can potentially get an offer if they score a higher UCAT + a higher interview, it so happened last year that none did.