In a statement, Fletcher said the first allocation would be in April and this spectrum would be in the 26GHz band, which would enable fast, high-capacity services.
In the second half of the year, the allocation of low-band spectrum, in the 850/900Mhz band, would take place. This is crucial in broader geographic coverage of 5G services.
Mid-band spectrum has already been allocated by the government and existing 5G services are using this band.
"The mid-band spectrum provides broad coverage and fast speeds and the high band spectrum will allow blazing fast speeds over shorter distances.
“We are making the low, mid and high bands available so that the telcos can provide better, faster and stronger 5G in Australia."
Australia's top two telcos, Telstra and Optus, have already covered some part of the country with 5G, with the extent of coverage being a point of content between the two all the time.
The statement said 5G was forecast to add up to $2000 in gross domestic product per person after the first decade of the rollout.
“The sooner 5G is deployed, the sooner Australia can secure these benefits,” Fletcher added.