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

Incumbents

• Queen of Australia 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

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

Arts and literature

• Patrick White is announced as Australian of the Year
• 21 September The Jackson Pollock painting Blue Poles is controversially purchased by the Whitlam government for US$2 million (A$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

• 8 September 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

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

Deaths

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