The Australian government has set up a single corporation to roll out a broadband network to every house in Australia. This is something that the government has no special knowledge of, and no demonstrated ability to do. Governments have no business doing this thing. There is a very real risk that ideological differences between the Liberal and Labor parties will see NBN Co. mired in a similar situation to Telstra - a privatised monopoly with massive and unrivaled infrastructure funded by taxpayers with terrible customer service.
What should be done is for the government to maintain an inter-town and inter-city fibre backbone, and cover the cost at taxpayer expense, then let local council and small business wire up individual towns and suburbs. Then let consumers hire an ISP who also handles maintenance of the fibre cables. Maybe give the installer of the cable a 10- or 20-year monopoly on maintaining the cable to allow them to recoup their cost.
Granted, technically the government would want to retain official 'ownership' of the cables, and would still need some sort of administrative group to oversee who was responsible for which cable, but this would be a big improvement over how the rollout actually came together.
Creating new government-backed corporations to own the infrastructure is not a winning formula. The entity building and maintaining the cables needs to be exposed to market forces, and it isn't difficult to see how it could be done.
The government can handle the expensive parts like satellite connections for rural Australia and the inter-town links, if the market isn't likely to provide those things.