There are several waterproofing systems.  The best one will depend on what you are trying to waterproof:

Water Based Polyurethane- excellent all around.  Superior performance and versitility.  Should always be considered for bathrooms, decks, roofs.  Can be tiled or left as is. 

Bitumen -  good for ponds, retaining walls, roofs, planter boxes, water tanks etc

Acrylic -  Very good for bathrooms and other wet areas that will be tiled.  Some also suitable for roofs.

Cementitious systems - Use these when waterproofing pools,  water features, ponds and concrete water tanks.  Can consider for basements and planter boxes.  Options available for raising damp and similar applications.

Other Waterproofing Products - Includes primers and other specialised category systems.

Remember that internal wet areas must only be waterproofed with membranes that pass all the requirements of AS4858.