Thanks for your question!
If you were Prime Minister you could create your own party, but you might not want to…
If the Prime Minister chose to create a new party, then it is likely that the new party would be different from the one in government – so the Prime Minister would lose their job.
Political parties aim to get members elected to the Australian Parliament so their ideas can affect the way Australia is governed. If a party has the support of a majority of members in the House of Representatives then it will be able to form government.
You can discover more about the role of political parties here and specific details about a particular political party by visiting their website.