Most airlines have their own Frequent flyer program or association with a multi airline rewards program like Oneworld. There is a great article we recommend checking out at Australian Business Traveller, which analyses the two major Australian programs; Qantas and Virgin. There are also loads of resources at PointHacks which has many strategies to maximise the points you can gain with every flight.
For International Travel, we predominately fly with Emirates, accruing points on every flight. They have excellent Business Class lounges at each of the locations to which we have flown over the past 5 years. Skywards is Emirates Frequent Flyer program. It enables you to accrue Skywards miles to use for flight purchases, upgrades and also to purchase other items like electronics and tickets to sporting events.
There are four Skywards tiers starting at Blue, Silver, Gold and topping out at Platinum. Each tier has associated benefits like lounge access irrespective of which class you are flying on Emirates, Skywards points bonuses associated with Emirates flight tickets and much more. To be honest, it is probably pretty much the same as most other reward programs with any of the other big carriers. You can find more on the Skywards Program here: Skywards.
We also have a Qantas Frequent Flyer account, to which we have a linked credit card and debit card. This allows us to continually generate points on everyday spending items like groceries, everyday household purchases and bills. You can find more on the Qantas program here – Qantas Frequent Flyer.