The cruiser returned to Sydney on 16 February 1946, and she was placed into reserve for the rest of the year, during which the final components of the refit were completed.
On 16 June 1947, Australia was recommissioned and designated flagship of the Australia Squadron.
On 18 August, the cruiser sailed to Tokyo to serve with the British Commonwealth Occupation Force.
She remained in the region until the end of the year, and returned to Australia on 10 December.
With the exceptions of visits to New Zealand in 1948 and New Guinea in 1949, Australia remained in home waters for the next three-and-a-half years.
During 1949, the designation of Flagship was transferred to the light aircraft carrier HMAS Sydney.
By the start of 1950, Australia had been reassigned to training duties.

Australia visited New Zealand from 24 February to 31 March 1950.
The cruiser was deployed on a 'mercy mission' to Heard Island in late July, to collect the island's doctor, who had developed appendicitis, and transport him to the mainland for treatment.
Given only 24 hours notice, the ship's company loaded provisions and cold-weather gear, while removing all unnecessary equipment to improve fuel consumption, before sailing on 27 July.
Better-than-expected weather on the outbound voyage was countered by poor conditions at Heard Island, with Australia forced to loiter for a day before a boat could be safely launched to collect the doctor.
The cruiser reached Fremantle on 14 August.
Because of structural damage to Australia caused by Southern Ocean conditions, the Australian government announced that RAN vessels would not be deployed for similar incidents in the future, although the RAN performed three medical evacuations at the nearby Macquarie Islands in later years.

During May 1951, Australia transported Sir John Northcott, the Governor of New South Wales, to Lord Howe Island for jubilee celebrations.
In July, the cruiser visited New Caledonia.
During 1952, the cruiser visited New Guinea, New Britain, and the Solomon Islands, and undertook a training cruise to New Zealand from mid September to 6 October.
Australia made a port visit to New Zealand in October 1953.
During February and March 1954, the cruiser served as part of the escort for the Royal Yacht Gothic, during the Australian leg of Queen Elizabeth II's coronation world tour.
Later, in May, Australia transported Governor-General Sir William Slim, along with his wife and staff, on a cruise of the Coral Sea, Great Barrier Reef, and Whitsunday Passage.
During this voyage, a disabled Dutch landing ship was located and towed to Cairns.
The cruiser returned to Sydney on 16 February 1946, and she was placed into reserve for the rest of the year, during which the final components of the refit were completed. On 16 June 1947, Australia was recommissioned and designated flagship of the Australia Squadron. On 18 August, the cruiser sailed to Tokyo to serve with the British Commonwealth Occupation Force. She remained in the region until the end of the year, and returned to Australia on 10 December. With the exceptions of visits to New Zealand in 1948 and New Guinea in 1949, Australia remained in home waters for the next three-and-a-half years. During 1949, the designation of Flagship was transferred to the light aircraft carrier HMAS Sydney. By the start of 1950, Australia had been reassigned to training duties.
Australia visited New Zealand from 24 February to 31 March 1950. The cruiser was deployed on a 'mercy mission' to Heard Island in late July, to collect the island's doctor, who had developed appendicitis, and transport him to the mainland for treatment. Given only 24 hours notice, the ship's company loaded provisions and cold-weather gear, while removing all unnecessary equipment to improve fuel consumption, before sailing on 27 July. Better-than-expected weather on the outbound voyage was countered by poor conditions at Heard Island, with Australia forced to loiter for a day before a boat could be safely launched to collect the doctor. The cruiser reached Fremantle on 14 August. Because of structural damage to Australia caused by Southern Ocean conditions, the Australian government announced that RAN vessels would not be deployed for similar incidents in the future, although the RAN performed three medical evacuations at the nearby Macquarie Islands in later years.
During May 1951, Australia transported Sir John Northcott, the Governor of New South Wales, to Lord Howe Island for jubilee celebrations. In July, the cruiser visited New Caledonia. During 1952, the cruiser visited New Guinea, New Britain, and the Solomon Islands, and undertook a training cruise to New Zealand from mid September to 6 October. Australia made a port visit to New Zealand in October 1953. During February and March 1954, the cruiser served as part of the escort for the Royal Yacht Gothic, during the Australian leg of Queen Elizabeth II's coronation world tour. Later, in May, Australia transported Governor-General Sir William Slim, along with his wife and staff, on a cruise of the Coral Sea, Great Barrier Reef, and Whitsunday Passage. During this voyage, a disabled Dutch landing ship was located and towed to Cairns.
HMAS Australia (D84)