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See also: 1972 in Australia, other events of 1973, 1974 in Australia and the Timeline of Australian history.

Incumbents

• Queen of Australia - HM Queen Elizabeth II
• Governor General - Sir Paul Hasluck
• Prime Minister - Gough Whitlam
• Premier of New South Wales - Sir Robert Askin
• Premier of South Australia - Don Dunstan
• Premier of Queensland - Sir Joh Bjelke-Petersen
• Premier of Tasmania - Eric Reece
• Premier of Western Australia - John Tonkin
• Premier of Victoria - Rupert Hamer

Events

• February 10 - Australia's first casino, the Wrest Point Hotel Casino, opens in Hobart
• February 28 - The federal voting age is lowered from 21 to 18. The state of New South Wales had already enacted such a change in 1970.
• March 8 - Whiskey Au Go Go fire
• June 1 - The first General Dynamics F-111 aircraft is delivered to the Royal Australian Air Force
• October 20 - Sydney Opera House officially opened by Queen Elizabeth II
• December 1 - Papua New Guinea is granted self government prior to independence
• December 31 - AC/DC perform their first major gig in Sydney Australia.

Arts and literature

• Patrick White is announced as Australian of the Year
• September 21 - The Jackson Pollock painting Blue Poles is controversially purchased by the Whitlam government for US$2 million (AUD$1.3 million).
• "No award" was made for the Miles Franklin Award

Film

• Alvin Purple

Television

• Certain Women (TV series) commences
• The novel Seven Little Australians adapted for television (10 part series)

Sport

• September 8 - Derek Clayton wins his fourth men's national marathon title, clocking 2:12:07.6 in Perth.
• Gala Supreme wins the Melbourne Cup
• Western Australia wins the Sheffield Shield
• Helsall takes line honours in the Sydney to Hobart Yacht Race. Ceil III is the handicap winner
• Australia defeats South Africa 3-0 in the Federation Cup

Births

• January 31 — Portia de Rossi, actress
• February 15 — Sarah Wynter, actress
• February 16 — Cathy Freeman, athlete
• February 20 — Kimberley Davies, actor
• March 26 — Matt Burke, rugby union footballer
• April 13 — Tammy Cole, field hockey defender
• April 19 — George Gregan, rugby union player
• April 26 — Stephanie Graf, middle distance athlete
• May 29 — Malcolm Allen, swimmer
• June 21 — Alyson Annan, field hockey player
• July 27 — Gorden Tallis, rugby league footballer
• August 2 — Susie O'Neill, swimmer
• August 14 — Kieren Perkins, swimmer
• August 20 — Scott Goodman, swimmer
• August 22 — Mark Hickman, field hockey goalkeeper
• September 2 — Matthew Dunn, swimmer
• September 5 — Jennifer Whittle, basketball player
• September 18 — Louise Sauvage, wheelchair athlete
• October 8 — Toby Haenen, swimmer
• October 14 — Steven Bradbury, speed skater
• October 23 — David Beard, volleyball player
• November 20 — Matthew Smith, field hockey player
• December 4 — Steve Menzies, rugby league footballer
• December 24 — Kerry Nettle, politician
• December 28 — Alex Dimitriades, actor

Deaths

• April 5 - John Coleman (b.1928), Australian rules footballer
• April 21 - Arthur Fadden (b.1894), former Prime Minister
• July 8 - Arthur Calwell (b.1896), politician