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See also: 1991 in Australia, other events of 1992, 1993 in Australia

Incumbents

• Queen of Australia - HM Queen Elizabeth II
• Governor General - Bill Hayden
• Prime Minister - Paul Keating
• Premier of New South Wales - Nick Greiner, then John Fahey
• Premier of South Australia - John Bannon, then Lynn Arnold
• Premier of Queensland - Wayne Goss
• Premier of Tasmania - Michael Field, then Ray Groom
• Premier of Western Australia - Carmen Lawrence
• Premier of Victoria - Joan Kirner, then Jeff Kennett
• Chief Minister of the Australian Capital Territory - Rosemary Follett
• Chief Minister of the Northern Territory - Marshall Perron

Events

• January 2 - George H. W. Bush becomes the first President of the United States to address the Australian Parliament.
• February 1 - Tasmanian state election. ALP Government of Michael Field defeated & replaced with Liberal Party Government of Ray Groom. On the same day, 1 cent and 2 cent coins cease to be legal tender.
• February - Queen Elizabeth II visits Australia. Prime Minister Paul Keating breaks royal protocol by placing his hand on the Queen's back, causing an outraged British tabloid newspaper to dub him the "Lizard of Oz".
• February 15 - Second ACT Legislative Assembly election held, reelecting Labor minority government of Rosemary Follett.
• May 25 - Lindy Chamberlain receives compensation for wrongful conviction on murder charges.
• June 3 - Mabo decision
• June 24 - Nick Greiner resigns as New South Wales Premier in the wake of a corruption scandal & is replaced by John Fahey
• September 4 - Lynn Arnold becomes Premier of South Australia after the resignation of John Bannon after the near-collapse of the State Bank
• September 19 - Queensland Labor Government of Wayne Goss re-elected for second term
• October 3 - Victorian state election sees Jeff Kennett & the Liberal Party defeat the incumbent Labor Government of Joan Kirner.

Arts and literature

• January 26 - The first Big Day Out music festival is held at the Sydney Showground, headlined by Violent Femmes and Nirvana.
• Tim Winton's novel Cloudstreet wins the Miles Franklin Award

Film

• January 23 - Spotswood
• August 20 - Strictly Ballroom
• November 12 - Romper Stomper

Television

• January 1 - The Victorian television market is aggregated, with VIC TV (now WIN Television) becoming the Nine Network affiliate, Prime Television taking a Seven Network affiliation & Southern Cross Network (now Southern Cross Ten) taking the Network Ten affiliation.
• September 4 - Kerry Packer pulls the plug on Australia's Naughtiest Home Videos mid-air.
• Ending this year was:

• November - Fast Forward (program comes back as Full Frontal in 1993)
• November - Acropolis Now
• The Big Gig (1989-1992) on ABC

Sport

• February 22-March 25 - The 1992 Cricket World Cup is held in Australia and New Zealand. Pakistan defeats England in the final at the MCG by 22 runs.
• March 5 – First day of the Australian Track & Field Championships for the 1991-1992 season, which are held at the Olympic Sports Field in Adelaide, South Australia.
• March 25 – Great Southern Stand opened at the MCG by Donald Cordner, then-President of the Melbourne Cricket Club.
• April 6 – Peter Sterling announces his retirement from rugby league due to injury
• May 3 – Adelaide City win the NSL Grand Final on Penalties after a scoreless draw with Melbourne Croatia at Olympic Park. Geelong Kick the highest scoring game against the Bears (Fitzroy)
• May 7 – Exactly 100 years to the day of their first senior-level match, Collingwood meets Carlton in a rematch of that game at the MCG. Carlton wins by 33 points.
• May 18 – Auckland (now New Zealand) Warriors admitted to 1995 ARL premiership. North Queensland, South Queensland & Perth all admitted later, forming 20-team comp.
• July 12 – Gerard Barrett wins the men's national marathon title, clocking 2:16:46 in Brisbane, while Jennifer Dowie claims the women's title in 2:40:40.
• July 29 – Ad appears in lost & found section of Herald Sun newspaper. "LOST: The plot at Waverley Park last Saturday. Finder kindly return it to the Hawthorn Football Club. Before September if possible!"
• September 26 – West Coast Eagles (16.17.113) defeat Geelong (12.13.85) in the first non-Melbourne-only Grand Final, to win the 96th AFL premiership. It is the first time that the VFL/AFL premiership has left Victoria.
• September 27 – Brisbane Broncos (28) defeat St. George Dragons (8) to win the 84th NSWRL premiership. It is the first time that the NSWRL premiershp has gone to Queensland.
• Brownlow Medal awarded to Scott Wynd (Footscray)

Deaths

• January 3 - Judith Anderson (b.1897), actor
• March 27 - Lang Hancock (b.1909), mining magnate. His death started a row between his widow Rose Porteous & his daughter Gina Rinehart over the circumstances of his death & his fortune.
• June 15 - Brett Whiteley (b. 1939), painter
• June 18 - Peter Allen (b. 1944), entertainer
• October 6 - Bill O'Reilly (b. 1905), cricketer
• November 28 - Sidney Nolan (b. 1917), painter