Australia have been set a target of 184 to claim their fifth World Cup title after New Zealand struggled with the bat to be bowled out in 45 overs.
Having won the toss and elected to bat first, things got off to a horror start for the Black Caps as skipper Brendon McCullum lasted just three balls before being bowled out by Mitchell Starc for a duck.
That set the early tone for New Zealand, who found things slow going with Martin Guptill adding 15 runs to the board before himself being sent packing by Glenn Maxwell.
Kane Williamson (12) was next to go soon after, mistiming his shot to allow Mitchell Johnson a simple return catch which left the Kiwis stranded on 38-3 from 12 overs.
Things were looking increasingly bleak at this stage, but Grant Elliot and Ross Taylor added some much-needed stability at the crease, with the former racing past a half-century with a confident knock.
Just as a comeback looked possible, Taylor was sent packing for 40 by the impressive James Faulkner, and Corey Anderson lasted just two balls before also falling victim to the same left-armer.
Australia could smell blood, and when Luke Ronchi became the latest to go for a duck, the Kiwis' hopes of lifting the cup were fading by the over.
Daniel Vettori (14) was then bowled out by a rampant Johnson, before Elliot was eventually sent back to the pavilion for 83 as things continued to unravel.
Matt Henry (0) and Tim Southee (11) did little to help steady the ship as New Zealand failed to surpass the 200 mark from their innings, giving the Aussies a real chance of tasting success on home soil.
