Euro 2016 winners Portugal will now face Chile in the last four on Wednesday (19:00 BST).
Australia went ahead through winger James Troisi, before substitute Martin Rodriguez levelled from close range.
World champions Germany moved above Chile with a 3-1 win over Cameroon and will play Mexico on Thursday (19:00).
RB Leipzig forward Timo Werner scored twice, with Hoffenheim midfielder Kerem Demirbay also on target for the experimental German squad competing in Russia.
Porto forward Vincent Aboubakar netted for Cameroon, who finished bottom of the group, with a draw from their match against Australia their only point.
Group A:
Group B:

The former Doctor Who actress, from Inverness, joins US stars Kevin Hart, Jack Black and Dwayne Johnson, aka The Rock, in the new production.
Her casting follows her securing a bigger role in Guardians of the Galaxy.
Starring the late Robin Williams, Jumanji involves a magical board game and is regarded by fans as a classic.
In posts on Instagram, Hart and Johnson welcomed Gillan, who studied drama at Eden Court in Inverness, to "the Jumanji family".
Johnson wrote:  "I'm proud to announce a girl who's playing the most important role in our movie - the talented, beautiful and down for a Scottish fight at any time, Karen Gillan.
"And yes, this is the girl who is so bad ass she shaved her freaking head for Guardians Of The Galaxy.
"We start production next month in Hawaii and as many of you already know, this isn't a remake or reboot, but a continuation of the awesome Jumanji story we love."
Gillan shaved her head to play blue-skinned space pirate Nebula in 2014's Guardians of the Galaxy.
She has returned to the role for next year's Guardians of the Galaxy, Volume Two. Its director James Gunn said Gillan will have more screen time in the sequel.

Staff at Breckland Council will not be paid in future for the time they take to have a cigarette after the proposals were given the go-ahead.
Simon Clark, from Smokers' lobby group Forest, said earlier that everyone was entitled to a break during work.
The council said the move was aimed at making the issue of smoke breaks fairer for individuals who did not smoke.
William Nunn, leader of the Conservative-run council, said: "We are not trying to stop smoking... what we are saying is when people go for a cigarette they should do it in their own time."
Mr Clark said: "Are they going to introduce clocking in and off for people who go on the internet, on Facebook, or people who want to have a cup of coffee?
"I am sure there are some smokers who abuse the situation and go out too often but if that is happening that is a failure of management."
A meeting of the full council voted to approve the measure on Wednesday.
Chile qualified behind Germany from Group B to reach the Confederations Cup semi-finals after drawing 1-1 with Australia in their final group game.
[NEXT_CONCEPT]
Scottish actress Karen Gillan has been cast in a new film that has been described as a follow up story to the 1990s box office hit, Jumanji.
[NEXT_CONCEPT]
Proposals to make workers clock off when they go for a cigarette break have been backed by a Norfolk council.