Hi @eyesorereno,
A warm welcome to the Bunnings Workshop community and thank you for your question.
The good news is that you won't need to completely replace the plasterboard as only the paper face has been damaged, but there is a bit of work that will need to be done before it can be painted.
I'd suggest having a look at my colleague @MitchellMc's response on How to fix ripped paper in drywall?
You'll want to remove the loose paper, then skim coat over it with topping compound, sand it then coat it with a sealing primer before painting with your top coat.
Have a look through that discussion as it runs through things well.
Let me know if you have any further questions. I'm happy to help further if required.
Jacob
