The Wallaby side flew out of the blocks, scoring after only 33 seconds of play with a try centre Damon Murphy. Then a converted try from outside half Kacey Mitchell made Wales's plight worse.
Wales seemed completely finished when Murphy struck again to give Australia a 17-0 advantage.
Then came the fightback as skipper Johnathan Edwards led the charge with a try under the posts, converted by Martin Roberts.
Australia recomposed themselves after the break to run in a fourth try this time from flanker James Lew. Wales again fought back and in their eagerness to deny their opponents ball, Australia lost Patrick McCutcheon to the sin bin.
With a man advantage Wales struck first with a try by Lee Williams, again converted by Roberts, and then a touchdown from winger James Lewis to bring the scoreline to 22-19 in Australia's favour.
But that was it for Wales, the final whistle (this time after the official hooter) had sounded signalling another frustratingly close defeat for the Welshmen.