Team Australia was an auto racing team competing in the V8 Supercars and Champ Car World Series. It was created in early 2005 when two Australian businessmen bought into Derrick Walker's Walker Racing operation. After the 2007 the operation was scaled back to just Will Power who joined KV Racing, before ending entirely a year later.
After sponsoring young Australian driver Josh Hunt in the Toyota Atlantic Championship, Australian millionaire Craig Gore began to investigate fielding a Champ Car team. His empire already included a V8 Supercar team competing in Australia, and at the 2004 Surfers Paradise round of the CCWS, on the Gold Coast, Australia, Gore's V8 driver David Besnard made his debut with a WPS sponsored Walker Racing Champ Car. He finished a creditable 7th place, and the seeds were sewn for Gore's assault on the Champ Car series.
In late 2004 and early 2005 Gore, his associate John Fish and long time Champ Car World Series team owner Derrick Walker, created the Team Australia race program. Obsolete Reynard chassis were replaced with bespoke Lola units, and the team signed Canadian Champ Car veteran Alex Tagliani and Australian Formula 3 driver Marcus Marshall for the 2005 season.