From AntiMusic.com:

The new book The 100 Best Australian Albums claims to name the best Australian albums of the past 50 years - which is sure to spark debate amongst the local music scene.

The book's three authors Toby Creswell, Craig Mathieson and John O'Donnell each have long and respected careers in the music industry.

Creswell is a journalist and music critic whose 2005 book 1001 Songs: The Great Songs of All Time and the Artists, Stories and Secrets Behind Them is regularly used as a reference for the RocKwiz tv show.

Mathieson is also a journalist, known for his work with Rolling Stone, Juice magazine, The Age and The Sydney Morning Herald, as well as for his book Hi Fi Days, a biography of Silverchair, Spiderbait and You Am I.

O'Donnell started out as a freelance writer, worked as Music Editor at Rolling Stone, then went to work with record labels where he signed and developed acts including Silverchair, Something For Kate, Jebediah, Missy Higgins and Empire of the Sun.

According to O'Donnell "It wouldn't be a good list if it didn't polarise people and we hope that this list will. We also hope that it will get people sitting around comparing their favourites and discovering or re-discovering these great albums and others."

Here's their list:

1.Midnight Oil - Diesel and Dust
2.AC/DC - Back in Black
3.Crowded House - Woodface
4.Cold Chisel - Circus Animals
5.The Triffids - Born Sandy Devotional
6.Easybeats - The Best Of
7.Paul Kelly and the Coloured Girls - Gossip
8.You Am I - Hi Fi Way
9.Skyhooks - Living in the 70's
10.Avalanches - Since I Left You
11.INXS - Kick
12.Go-Betweens - 16 Lovers Lane
13.Radio Birdman - Radios Appear
14.Daddy Cool - Daddy Who? Daddy Cool!
15.Richard Clapton - Goodbye Tiger
16.Bee Gees - Best of
17.The Birthday Party - Junkyard
18.Hunters & Collectors - Human Frailty
19.Sarah Blasko - As Day Follows Night
20.The Saints - I'm Stranded
21.Drones - Gala Mill
22.Split Enz - True Colours
23.Midnight Oil - 10,9,8,7,6,5,4,3,2,1
24.Slim Dusty - The Very Best of
25.Silverchair - Neon Ballroom
26.Nick Cave Bad Seeds - The Boatman's Call
27.Regurgitator - Unit
28.Hoodoo Gurus - Stoneage Romeos
29.Empire of the Sun - Walking on a Dream
30.Gurrumul - Gurrumul
31.Kasey Chambers - Barricades & Brickwall
32.Johnny O'Keefe - The Wild One
33.The Church - Starfish
34.The Reels - Quasimodo's Dream
35.Master's Apprentices - Master's Apprentices
36.Savage Garden - Savage Garden
37.Sunnyboys - Sunnyboys
38.Kev Carmody & Various Artists - Cannot Buy My Soul
39.Something For Kate - Echolalia
40.Stephen Cummings - Lovetown
41.The Saints - Prehistoric Sounds
42.Australian Crawl - The Boys Light Up
43.Powderfinger - Odyssey No. 5
44.Mental as Anything - Cats & Dogs
45.Eddy Current Suppression Ring - Rush To Relax
46.Models - Pleasure of Your Company
47.Augie March - Moo, You Bloody Choir
48.The Missing Links - The Missing Links
49.Ed Kuepper - Honey Steel's Gold
50.AC/DC - Highway to Hell
51.The Sports - Don't Throw Stones
52.The Seekers - Greatest Hits
53.Cold Chisel - East
54.Underground Lovers - Leaves Me Blind
55.You Am I - Hourly, Daily
56.INXS - The Swing
57.The Living End - The Living End
58.Jimmy Barnes - For the Working Class Man
59.Russell Morris - Wings of an Eagle
60.Hoodoo Gurus - Mars Needs Guitars
61.The Presets - Apocalypso
62.The Dingoes - The Dingoes
63.The Cruel Sea - The Honeymoon is Over
64.The Angels - Face to Face
65.The Hummingbirds - loveBUZZ
66.Paul Kelly - Foggy Highway
67.Chain - Towards the Blues
68.Dragon - O Zambesi
69.Billy Thorpe & the Aztecs - Live at Sunbury
70.The Scientists - Blood Red River
71.Crowded House - Temple of Low Men
72.Died Pretty - Doughboy Hollow
73.Axiom - Fool's Gold
74.Bob Evans - Suburban Songbook
75.Dirty 3 - Ocean Songs
76.Renee Geyer - Ready to Deal
77.The Church - The Blurred Crusade
78.The Vines - Highly Evolved
79.John Farnham - Whispering Jack
80.The Loved Ones - Magic Box
81.Sleepy Jackson - Lovers
82.Bliss N Eso - Flying Colours
83.Nick Cave and the Bad Seeds - Tender Prey
84.Tex, Don + Charlie - Sad But True
85.Flowers - Icehouse
86.Missy Higgins - The Sound of White
87.Go-Betweens - Before Hollywood
88.Normie Rowe - Ain't Necessarily So
89.Jet - Get Born
90.Captain Matchbox Whoopee Band - Smoke Dreams
91.Ben Lee - Awake is the New Sleep
92.Rose Tattoo - Rose Tattoo
93.I'm Talking - Bear Witness
94.X - X-Aspirations
95.Beaches - Beaches
96.Baby Animals - Baby Animals
97.Bernard Fanning - Tea & Sympathy
98.Kylie Minogue - Fever
99.Men at Work - Business As Usual
100.Morning of the Earth - Soundtrack

Wow-some great stuff on here, but soooooooooooo many things missing. And how the hell do Men At Work barely make it and where is Cargo from them?
Also, no Rick Springfield? What about Divinyls? The Choirboys? Noiseworks? Buffalo? Plenty of others too.
At least they acknowledge The Angels (aka Angel City), Rose Tattoo, Icehouse, Cold Chisel, Skyhooks, Dragon and The Saints. I have no problems with Midnight Oil at #1, but I'd probably put 10,9,8,... at that spot instead.

Which one has Beds Are Burning on it?

That would be Diesel & Dust, at #1.

Ahh. Good album!