Swift and Hiddleston were first seen together on June 15, only a few weeks after Swift split with DJ Calvin Harris.
The new couple were then less than shy about flaunting their budding romance at Swift's Fourth of July celebrations earlier this week and have been pictured together in Rhode Island, Rome and the UK together.
While conspiracy theorists believe Swift and Hiddleston may be a 'showmance' for a music video, Swift has taken a break from making music after 10 years on the album/tour/album cycle.
Overnight, it was revealed Swift's ex, 32-year-old Scottish DJ Calvin Harris was set to release the song, Ole, which is said to be a dig at Swift cheating on him with her new beau, 35-year-old Hiddleston.
TMZ says that the song, which features John Newman on vocals, includes a number of digs at 26-year-old Swift.
The song is said to be from the point of view of Hiddleston. It even uses his most famous character, Loki from Thor, in the lyrics.
"Low key, you won't tell none of your friends about me."
Harris and Swift split at the end of May after a 15-month romance.
Swift is no stranger to staying off the grid while in Australia and is flanked by up to four security guards at all times.
Last December the singer went to Hamilton Island to play a intimate gig for radio station Nova and invited competition winners.