Hey to Australia :-P
when exactly do you want to travel? in summertime here?
It is easy to get from Malta to Italy( Pozzllo or Catania) by ferry
However the prices are for one way pp 62E so you can also look for cheap flights with ryan air e.g.
In Malta you can spend 1-2 weeks and you have seen most of the beautiful places
Cheap, you can get around with the public busses where 1 way only costs 0.47E pp. only the special routes cost 1.16E which is on my opinion quite affordable.
Malta has a lot of nice places, like the capital city of Valletta. It is worth spending a day in it, since it is part of the world heritage...Should you be interested in a city tour you could explore Valletta via an audio guide which you can rent from the Archeology Museum at the main street= Republic Street.
As soon as you arrive at the main Bus Terminus( almost all Busses end or pass through Valletta)and come through the gate you will find a tourist information on the right side. there you will find good information about the available tours and sides of Malta.
Also I can recommend to visit the St.John's Co-Cathedral with its chapels and famous paintings! By the way Malta has about 365 churches, but this one is unique. Furthermore, there is the Market in the Halls during the week andon Sundays it is next to the main Bus Terminus from 9-12 in the morning and the Palace Armoury Museum which opens every day and exibits a variety of armoury from different centuries beginning from the medieval times.
Mdina, the silent city, contrasts a lot from tourist places like Paceville (nighlife area- the best one in whole Malta especially club 22 in Portomaso Tower, St. Julians), and from there you have an amazing view of all Malta, because it is located in the middle of the Island. Fishing villages like Marsaxlokk are beautiful and sundays there is also a fish market.
The weather is not the best at the moment to visit places like the Blue Grotto or the neighbour island Comino and even the bigger one Gozo, where you really need summertime to enjoy it. However, if it is sunny you could visit the close island Gozo, which differs a bit from the urban Malta. You are able to see more green and rural places.
Hope you have a nice trip and my advice could help you
Let me know if you already have some plans and of course later how it was =)
best wishes