If you're private then you probably won't ge tthe choice. Most will insist on induction at 41, 41+3 or 42 (depending on whatever arbitrary line they've drawn in the sand)
In the public system you may have the option (particularly under midwifery-led care) to continue past 42 weeks with frequent monitoring.
It certainly is unusual for anyone to go past 42 weeks these days (I mean, nobody actually wants to be pregnant that long anyway ).
I was private first time round and was induced at 42 weeks.