For example, suppose there are 100 seats available. Party A wins 45 seats, party B wins 45 seats, and party C wins 10 seats. "Usually" party A and party B will court party C, and whoever C ends up with will have enough seats to form a government.
Has it ever been the case that party A ends up partnering with party B to govern?
I browsed through the Wikipedia article on hung parliaments and didn't see anything, in fact it seems to assume that this will never happen:
Hung parliaments are rare at the federal level in Australia, as a de facto two-party system, in which the Australian Labor Party competes against a permanent Liberal-National Coalition of the conservative parties, has existed with only brief interruptions since the early 20th century.
The hypothetical election above could easily be the result of a two-party system, where the third party is greatly outnumbered but still gets to play kingmaker.