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A

Ace! : Excellent! Very good!
Aerial pingpong : Australian Rules football
Amber fluid : beer
Ambo : ambulance, ambulance driver
Ankle biter : small child
Apples, she’ll be : It’ll be all right
Arvo : afternoon
Aussie (pron. Ozzie) : Australian
Aussie salute : brushing away flies with the hand
Avos : avocados

B

B & S : Bachelors’ and Spinsters’ Ball – a very enjoyable party usually held in rural areas
Back of Bourke : a very long way away
Bail (somebody) up : to corner somebody physically
Bail out : depart, usually angrily
Banana bender : a person from Queensland
Barbie : barbecue (noun)
Barrack : to cheer on (football team etc.)
Bastard : term of endearment
Bathers : swimming costume
Battler : someone working hard and only just making a living
Beaut, beauty : great, fantastic
Big Smoke : a big city, especially Sydney or Melbourne
Big-note oneself : brag, boast
Bikkie : biscuit (also “it cost big bikkies” – it was expensive)
Billabong : an ox-bow river or watering hole
Billy : teapot. Container for boiling water.
Bingle : motor vehicle accident
Bities : biting insects
Bitzer : mongrel dog (bits of this and bits of that)
Bizzo : business (“mind your own bizzo”)
Black Stump, beyond the : a long way away, the back of nowhere
Bloke : man, guy
Bloody : very (bloody hard yakka)
Bloody oath! : that’s certainly true
Blow in the bag : have a breathalyser test
Blowie : blow fly
Bludger : lazy person, layabout, somebody who always relies on other people to do things or lend him things
Blue : fight (“he was having a blue with his wife”)
Blue, make a : make a mistake
Bluey : pack, equipment, traffic ticket, redhead
Bluey : blue cattle dog (named after its subtle markings) which is an excellent working dog. Everyone’s favourite all-Aussie dog.
Bluey : heavy wool or felt jacket worn by mining and construction workers.
Bluey : bluebottle jellyfish
Bodgy : of inferior quality
Bog in : commence eating, to attack food with enthusiasm
Bog standard : basic, unadorned, without accessories (a bog standard car, telephone etc.)
Bogan : person who takes little pride in his appearance, spends his days slacking and drinking beer
Bogged : Stuck in mud, deep sand (a vehicle).
Bondi cigar : see “brown-eyed mullet”
Bonzer : great, ripper
Boogie board : a hybrid, half-sized surf board
Boomer : a large male kangaroo
Booze bus : police vehicle used for catching drunk drivers
Boozer : a pub
Bored shitless : very bored
Bottle shop : liquor shop
Bottle-o : liquor shop (originally a man with hessian bags going around picking up beer bottles in the 50’s and 60’s)
Bottler : something excellent
Bottling, his blood’s worth : he’s an excellent, helpful bloke.
Bounce : a bully
Bourke Street, he doesn’t know Christmas from : he’s a bit slow in the head. (Bourke Street is a brightly lit Melbourne street)
Bowl of rice, not my : not my cup of tea; I don’t like it
Brass razoo, he hasn’t got a : he’s very poor
Brekkie : breakfast
Brick shit house, built like a : big strong bloke
Brickie : bricklayer
Brisvegas : Brisbane, state capital of Queensland
Brizzie : Brisbane, state capital of Queensland
Brown-eyed mullet : a turd in the sea (where you’re swimming!)
Brumby : a wild horse
Buck’s night : stag party, male gathering the night before the wedding
Buckley’s, Buckley’s chance : no chance (“New Zealand stands Buckley’s of beating Australia at football”)
Budgie smugglers : men’s bathing costume
Bull bar : stout bar fixed to the front of a vehicle to protect it against hitting kangaroos (also roo bar)
Bundy : short for Bundaberg, Queensland, and the brand of rum that’s made there
Bunyip : mythical outback creature
Bush : the hinterland, the Outback, anywhere that isn’t in town
Bush bash : long competitive running or motorcar race through the bush
Bush oyster : nasal mucus
Bush telly : campfire
Bushie : someone who lives in the Bush
Bushman’s hanky : Emitting nasal mucus by placing one index finger on the outside of the nose (thus blocking one nostril) and blowing.
Bushranger : highwayman, outlaw
Butcher : small glass of beer in South Australia – From the theory that a butcher could take a quick break from his job, have a drink and be back at work
BYO : unlicensed restaurant where you have to Bring Your Own grog, also similar party or barbecue

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source: http://www.koalanet.com.au/australian-slang.html