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1 Australia \ Oceania-Lake Eyre (Salt lake) when filled; the largest permanent and freshwater lake in Oceania is Lake Taupo. 2  Africa-Lake Victoria, also the third-largest freshwater lake on Earth. 3  It is one of the Great Lakes of Africa. he largest lakes (surface area) by continent are: 1  Australia \ Oceania-Lake Eyre (Salt lake) when filled; the largest permanent and freshwater lake in Oceania is Lake Taupo. 2  Africa-Lake Victoria, also the third-largest freshwater lake on Earth. 3  It is one of the Great Lakes of Africa.
Best Answer: Australia is the continent, Oceania is the region. Continents are just very large landmasses. Australia is the only country that is also a continent. Oceania is the larger region that contains Australia, New Zealand and the many island countries of the South Pacific.Australasia is what the Oceania region used to be called about 40 years ago.he country of Australia for instance includes the Australian continent, Tasmania (which is an island) and various other islands in the Indian, Pacific and Southern oceans. The Asian continent would be just the mainland. The Asian region would also include Taiwan, Indonesia, Philippines, Japan etc. for example.