Latest updates (all times BST):
FULL-TIME: New Zealand 32-12 Australia
80 mins: The siren for full-time sounds and PirI Weepu carries the ball into touch. The All Blacks have begun the defence of their Tri-Nations crown with a comprehensive victory.
TRY: 76 mins: New Zealand 32-12 Australia: Stephen Larkham's kick is charged down by Dan Carter, who releases replacement centre Isaia Toeava for a 50m run-in and a bonus-point try. Carter misses the conversion.
74 mins: The Wallabies are recycling the ball well in the second half and earn an attacking line-out metres from the All Blacks line. New Zealand collapse a maul and the referee plays an advantage, which Australia squander.
70 mins: Richie McCaw makes a crucial tackle on the marauding Lote Tuqiri, and Dan Carter's aggressive defence wins the All Blacks a turnover. Australia send on Sam Cordingley at scrum-half for George Gregan, and replace flanker George Smith with Phil Waugh.
69 mins: Wallabies lock Dan Vickerman requires more treatment after piling into the back of a ruck, but still soldiers on.
68 mins: Australia bring on prop Al Baxter for Guy Shepherdson, and Matt Giteau at inside for Mat Rogers. Daniel Carter misses a penalty that might have made the game safe for the All Blacks.
66 mins: Keven Mealama and Chris Jack launch a counter-attack, Carter sends a cross-kick into the hands of Ali Williams who taps it back to Rico Gear, but the wing cannot claim the ball with the try-line gaping.
65 mins: The All Blacks, who have brought on Piri Weepu at scrum-half, turn the ball over to allow Dan Carter to clear upfield.
64 mins: Australia opt to kick another penalty to touch rather than at goal, giving them a line-out metres from the All Blacks line.
62 mins: Richie McCaw drags down a Wallabies line-out on to give the visitors a penalty. Australia lock Dan Vickerman is hobbling with an ankle injury, but carries on after treatment.
60 mins: Another hold-up as Rico Gear goes to the blood-bin for treatment, Isaia Toeava coming on as a temporary replacement.
59 mins: New Zealand replace the impressive Jason Eaton with the experienced Ali Williams for the last quarter.
58 mins: Australia hit back and almost drive over in the left corner, but the referee is unable to see whether the ball is grounded, and after referral to the video referee, awards a 5m scrum.
PENALTY 55 mins: New Zealand 27-12 Australia
The All Blacks reassert themselves with another well-worked attack which yields a penalty for Daniel Carter.
53 mins: New Zealand bring on prop Greg Somerville for Tony Woodcock.
TRY: 52 mins: New Zealand 24-12 Australia
The Wallabies hit back from a line-out close to the All Blacks line, replacement Scott Fava, only on for a minute, picking up to touch down at the base of a ruck. Stirling Mortlock pulls his conversion attempt wide.
50 mins: Australia bring on Scott Fava in their back row for Mark Chisholm.
TRY: 49 mins: New Zealand 24-7 Australia
Richie McCaw is awarded a fortuitous try after deliberation by the TV official, Daniel Carter adding the conversion to put the All Blacks well in command.
48 mins: All Blacks centre Aaron Mauger makes a lovely break before kicking ahead to the line. Stephen Larkham appears to have held the ball up between his knees over the line, but Richie McCaw looks to have a hand on it. What will the video referee decide?
PENALTY 47 mins: New Zealand 17-7 Australia
Referee Jonathan Kaplan goes back for the original penalty, and Daniel Carter strokes over his kick to put the All Blacks 10 points up.
46 mins: The All Blacks turn over an Australian attack and launch a counter-attack from their own 22. The Wallabies concede a penalty, so Aaron Mauger tries an impromptu drop-goal, which sails narrowly wide.
44 mins: Australia are struggling to make headway against a solid New Zealand defence, despite taking the ball through multiple phases, Rodney So'oialo enveloping Lote Tuqiri with a smothering tackle.
42 mins: Wallabies wing Mark Gerrard tries a chip and chase on the All Blacks 22 but the hosts manage to scramble the ball clear and into touch.
0932 BST: Australia kick off the second half.
HALF-TIME: New Zealand 14-7 Australia
40 mins: Paul finds Rocky Elsom cleanly with his first line-out throw, but Australia concede a free-kick. Dan Carter boots the ball into touch to bring the first half to a close.
38 mins: Australia hooker Tai McIsaac is forced off injured after taking a blow to the ribs at a scrummage, the experienced Jeremy Paul coming on in his place.
37 mins: Australia number eight Rocky Elsom returns from the sin-bin, his side having conceded 14 points in his absence.
TRY: 35 mins: New Zealand 14-7 Australia
Richie McCaw takes out three Australian defenders with a clever run to the Wallabies line, allowing Keven Mealamu to barge his way over for his second try, after referral to the video referee. Daniel Carter converts from wide out.
32 mins: Rico Gear breaks two tackles to put New Zealand within sight of the Australian line, helped on by Jason Eaton before Rodney So'oialo is forced into touch. The Wallabies line-out is shakey again, forcing George Gregan into a hurried clearance into touch.
TRY: 29 mins: New Zealand 7-7 Australia
New Zealand take immediate advantage of their extra man. Australia hooker Tai McIsaac fails to find Daniel Vickerman, under pressure from Jason Eaton, at a line-out, and All Blacks hooker Keven Mealamu pounces on the loose ball to score. Daniel Carter finds his range to convert.
YELLOW CARD: 27 mins: Rocky Elsom is sent to the sin-bin after complaining about a third penalty awarded against him at a ruck.
25 mins: All Blacks prop Tony Woodcock has his opposite number Guy Shepherdson back-pedalling at the scrum, giving the hosts a turnover. Australia number eight Rocky Elsom concedes his second penalty of the match as New Zealand threaten to score, but Daniel Carter is again off target with his attempt at goal.
22 mins: Referee Jonathan Kaplan awards a free-kick against the Wallabies front row for not engaging properly at the scrum, but the All Blacks lose the ball in the tackle, where George Smith earns a turnover.
20 mins: New Zealand have the Australian scrum in all sorts of trouble, but the Wallabies eventually come up with the ball before the All Blacks turn it over, giving Joe Rokocoko a first chance to stretch his legs.
TRY: 16 mins: New Zealand 0-7 Australia
Australia full-back Chris Latham exposes a flat New Zealand defence with a chip over the top, collecting his kick before releasing Mat Rogers, whose inside pass sends Lote Tuqiri in for the opening try. Stirling Mortlock adds the conversion.
14 mins: New Zealand concede a penalty 30 metres out, but Stirling Mortlock pulls his attempt wide to keep the match scoreless.
12 mins: Three Australian tacklers envelop bullocking All Blacks flanker Jerry Collins, forcing the flanker to surrender the ball.
10 mins: Wallabies number eight Rocky Elsom infringes at a ruck, allowing Daniel Carter the first penalty opportunity of the match. But the fly-half slices his kick wide.
8 mins: An innovative New Zealand line-out, thrown straight to scrum-half Byron Kelleher at the tail, puts the hosts on the attack.
6 mins: A strong All Blacks scrum allows scrum-half Byron Kelleher to kick ahead deep into Australia territory, the ball bouncing into touch metres short of the visitors' line. But the Wallabies line-out is solid, Daniel Vickerman securing the ball.
3 mins: Eaton breaks through the middle and feeds on to Richie McCaw, whose kick ahead goes straight into the arms of Wallabies full-back Chris Latham.
2 mins: Eaton's error gives Australia an early opportunity to attack in All Blacks territory. They run through multiple phases, probing the blind side, before centre Stirling Mortlock knocks on in the tackle.
0836: New Zealand kick off in perfect conditions at the Jade Stadium, but lock Jason Eaton drops the ball in the air.
0834: The All Blacks perform their throat-slitting haka for the only the third time on a cool night in Christchurch.
Tri-Nations champions New Zealand are aiming to maintain a run of 18 home Test wins.
The All Blacks have not lost at home in the tournament since 2001, when the Wallabies triumphed in Dunedin.
But this is the first time this season the hosts have put their first-choice side out together, after warm-up wins over Ireland and Argentina.
Australia, by contrast, have enjoyed healthy wins over England and Ireland.
The Wallabies have retained the side that beat the Irish 37-15 two weeks ago.
The All Blacks have switched Mils Muliaina to outside centre with Leon MacDonald coming in at full-back, restoring all their big guns elsewhere.
New Zealand: L MacDonald; R Gear, M Muliaina, A Mauger, J Rokocoko; D Carter, B Kelleher; T Woodcock, K Mealamu, C Hayman, C Jack, J Eaton, J Collins, R McCaw (captain), R So'oialo.
Replacements: A Hore, G Somerville, A Williams, C Masoe, P Weepu, L McAlister, I Toeava.
Australia: C Latham; M Gerrard, S Mortlock, M Rogers, L Tuqiri; S Larkham, G Gregan (captain); G Holmes, T McIsaac, G Shepherdson, N Sharpe, D Vickerman, M Chisholm, G Smith, R Elsom.
Replacements: J Paul, A Baxter, S Fava, P Waugh, S Cordingley, M Giteau, B Tune.
Referee: Jonathan Kaplan (SA).