This is illegal, as the power to weight laws have changed for new licence drivers, no turbocharger cars are allowed, regardless
This is because vicroads and your insurance company do not enforce the law, if you want to give them money for a service, they will accept it.
Its upto you, as the individual to ensure your are driving the car legally and not breaking the law.
It will vary from police officer to officer unfortunately, some will be harsh on it and pull you up flat out, some will let it slide.
I would expect your days could be numbered - i guess it depends, whats the fine / penalty if you are caught?