The premise to this earlier, expanded RAN and RAN FAA is a notional enquiry, possibly a Royal Commission, held into the loss of so many Australian lives (over 60000 dead) during WWI.  Held during 1919 with the express intent of destroying the reputation and political career of one William Hughes (he had many enemies on both sides of the political spectrum) poor wording led to it becoming an in-depth examination of lessons learnt from the conflict and the foundation of one of the most detailed and progressive strategic policies on defence the world has ever seen.
Key elements covered included: 
   An independent airforce responsible for 
o   Defence of Australia from strategic attack from the air
o   Aerial policing and initial defence of Australian territories
o   Establishment, maintenance and defence of a strategic aerial transport system.
o   Training of all Australian military air and ground crew
o   Certification, acceptance  and safety of all Australian military aircraft
   Army
o   Formation of an Australian Regular Army
o   Motorisation of the new regular army and current militia 
o   Formation of an armoured corps
o   Formation of a tactical air corps
o   Replacement of heavy artillery with tactical airpower
   Navy
o   Formally becoming a separate entity from the RN while maintaining close links
o   Formation of a Fleet Air Arm
o   Acquisition of aircraft carriers
o   Rebuilding and expanding the submarine arm
o   Formation of a paramilitary coast guard 
   Establishment of multi service capabilities and doctrines, including training and development cadres.
o   Tri service tactical air power school
o   Marine warfare school
o   Airborne warfare school
Thinking to date of what could happen, obviously not all of the options but a mix. 
   Possible conversion of Indefatigable class BC into carrier in 1920's
   Light carrier(s) based on County class cruiser in late 20's early 30's.  
   An Ark Royal (and a Vanguard) ordered from the UK in the late 30's to counter the Japanese threat, initially serving with the RN with the out break of war but returning to Australia following Pearl Harbour.
   Updated County class CVLs continue to be built through war
   Implacable and Indefatigable transferred to RAN in 1945
   Licence built Audacious or Malta class carriers built in Australia post war
   Updated County Class CVLs modernised/completed to operate early generation jets 
   Implacable and Indefatigable modernised in Australia from mid 50's
   Updated County Class CVLs modified into a variety of roles, LHP, CVH (ASW), CVHG, or sold to other navies.
   Clemenceau selected as new CVL
   CVA01 selected as new fleet carrier design 
   An Essex purchased late 60s, to make up for cancellation of CVA01
   Victorious, Hermes and/or Eagle purchased early 70s to make up for cancellation of CVA01
   Invincible design selected as basis of County class CVL replacement, design modified post Falkands built in Australia
   Spruance APD and DDH replaces Modified County LPH, CVH, CVHG with Aust Invincibles swung into LPH role as required to support.
   CVV selected to replace 40's and 50's built fleet carriers - cancelled, current ships modernised, life extended / canalised, based on condition.
   Modified CdeG built in Australia, smaller than needed not really successful
   Australia full partner in CVF, CTOL version to replace CVA's, STOVL version to replace CVL, Invincibles, Spruances.
These ideas mean almost any combination of carrier aircraft (real, conceptual or should have been) could be employed from their decks at various eras.
It gets even more fun when I start thinking about escorts which could have been built in Australia to modified or even indigenous designs.
The RAAF and Army threads are just as bad.