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Australia has a highly concentrated ownership of media companies. Newspapers are dominated by two companies, News Corporation and John Fairfax Holdings. News Corporation publishes the only daily national newspaper, The Australian, as well as a daily newspaper in every capital city except Perth. Its holdings include The Daily Telegraph (Sydney), Herald Sun (Melbourne), The Courier-Mail (Brisbane) and The Advertiser (Adelaide).

While having a large and vibrant arts and cultural life (notably including the yearly Melbourne International Comedy Festival and Melbourne International Film Festival), Melbourne is perhaps best known as one of the most sports-obsessed cities in the world.

Australia has had a significant school of painting since the early days of European settlement, and Australians with international reputations include Sidney Nolan, Russell Drysdale, and Arthur Boyd—not to mention the prized work of many Aboriginal artists. Writers who have achieved world recognition include Thomas Keneally, Les Murray, Colleen McCullough, Nevil Shute, Morris West, Jill Ker Conway, Booker Prize winner Peter Carey and Nobel Prize winner Patrick White. Noted expatriate writers include Germaine Greer and Clive James, who are sometimes better known in the UK than they are in Australia.

Melbourne's own vibrant music scene has fostered many internationally renowned artists and musicians, with links to Nick Cave, Crowded House, AC/DC, John Farnham, Graeme Bell and Kylie Minogue.

While Australia has ubiquitous media coverage, the longest established part of that media is the Australian Broadcasting Corporation (ABC), the Federal Government funded organisation offering national TV and radio coverage. The ABC, like the BBC in Britain, is a non-commercial public service broadcaster, showing many BBC or ITV productions from Britain.

The Commonwealth of Australia is a constitutional monarchy: Queen Elizabeth II is the Queen of Australia, a role distinct and separate from her position as Elizabeth II of the United Kingdom, and is considered to be the head of state, although that term is found nowhere in the Constitution or the law. The Queen is nominally represented by the Governor-General - in practice virtually the entire constitutional role of the monarch is performed independently by the Governor-General. Under the Australian Constitution the role of the monarch is almost entirely ceremonial. Although the constitution theoretically gives very extensive executive power to the Governor-General, these powers are virtually never used directly, and are delegated to the Cabinet, whose members are chosen by the governing party or by the Prime Minister alone, from amongst the current members of the parliament.

Politicians in Australia, or "pollies", be they at state or federal level, are universally disliked and distrusted. Ironically, the failure of the 1999 referendum on becoming a republic was arguably more about the prospect of a President chosen by and from the "pollies", than about any vestigial loyalty to the British monarchy.

Much of the area around Adelaide was once used for wine grape production, so that wine growing districts (such as the Barossa Valley, for which Adelaide and South Australia are well known) remain within a short drive of the city outskirts.

Many raw materials (including resources postulated to exist but yet to be discovered) remain mostly unexploited. Australia is often referred to by economists as the "world's farm", but despite this emphasis on the agriculture sector, in recent years the Australian government has been focusing on the tourism, education and technology markets.