The 19-year-old from Bridgend is hoping the move will help clinch him a place in Wales' squad for the end-of-season World Cup.
"Brisbane Broncos have paid for the flights and sorted out work and accommodation for me," said Olds, who made his Wales debut against France in Wrexham last June.
"I'll be signing for Ipswich Jets when I arrive in Australia this week but, because I'm only 19, I can still play for Brisbane Broncos Under-20s so my aim is to get into that side eventually.
"I also want to try and get into the Wales squad for the World Cup later this year. There are a lot of Welsh-qualified half-backs who play at a higher level than me so, if I'm playing in the Queensland Cup, that'll help me improve my game."
Olds spent a year with Leeds, playing for their under-20s team and also had a spell with York last season, before joining the Scorpions this year.
Scorpions coach Dave Clark said: "We wish Ollie all the best in his career Down Under. We're sorry to lose him but we obviously can't stand in his way as this is a great opportunity to further his career.
"It will also be good for the Wales side to have one of their players turning out at a higher level than any side in the UK outside of Super League."
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