I think I understand where you’re coming from: you’ve decided that Egypt Air gives you your best shot at achieving Star Alliance Gold, given your situation. However, you’ll be sacrificing a helluva lot of potential points in the process. Consider…
- To my knowledge there's no credit card in Australia that will earn you Egypt Air points.
- There's no domestic airline in Australia that will earn you Egypt Air points.
- There's no supermarket or any other store loyalty programme in Australia that will earn you Egypt Air points.
Unless you are willing to forsake the opportunities to earn points through your spending, credit cards, domestic flying, supermarket shopping etc, you really should have at least one other FF programme going. For your situation, I would suggest Velocity given the fact that you can, via Singapore Airlines/KrisFlyer, use Velocity points for Star Alliance flights.
My hunch is that if you forget Egypt Air and focus on a combination of Velocity, KrisFlyer and AmEx Rewards, you’ll find that you and your wife may well be earning just about enough points between you that you’ll be able to use points to fly Business class to Canada every 18 months anyway-- and if you’re flying Business, you’ll have all the benefits of Gold status. Alternatively, there’s always the option of paying for one-off lounge access, or each getting a credit card which comes with complimentary lounge access: this may make more sense if you’re only flying a few times per year.
That’s my two cents’ anyway! All the best.