Mafia slang, means that someone, usually a mobster, was whacked wrongly or by mistake.
It turned out that Tony did not talk to the FBI after all. It was a bad hit.
Mafia slang, means that someone got 'whacked', meaning killed. Because Australia is 'down under', the same like when a person is after he passes away.
Tony went to Australia.
He'll go to Australia soon when he doesn't stop.