There exist several different colour forms of this species depending on collection locality, and these should not be kept together in order to prevent hybridisation and preserve bloodlines. It has been classified in the subgenus Chromaphyosemion by some authors who consider that nominal grouping to represent a monophyletic branch of a paraphyletic Aphyosemion.

Also known by the vernacular names You might also see it for sale as ‘golden lyretail’ or ‘lyretail panchax, A. australe was among the first killifishes to become popular in the hobby and still a favourite today. There exist a number of wild forms which tend to be labelled with place and year of collection in order to preserve bloodlines and avoid hybridisation, as well as several ornamental strans including ‘orange’, ‘gold’, ‘chocolate’, and ‘albino’.