The Aussies are a bunch of characters. As a general rule, halve a word and stick an "O" onto the end of it. Here are some of the most common words I could think of (feel free to add more)

Ambo: Ambulance driver/paramedic ("the ambo's dropped the patient off")
Agro: annoyed ("mate, don't get agro")
Arvo: Afternoon ("mate, what's the plan for this arvo?")
Baccy: Tobacco
Bashed: Beaten up or assaulted... this one really surprised me as it is used in the news ("so & so was bashed and left on the pavement"
Bogan : person who takes little pride in his appearance, spends his days slacking and drinking beer
Firies: Firemen
Garbo: Garbage men/Garbage truck
Hoon: A ned/chav. Usually drives a car with a huge exhaust and the stereo is usually worth more than the car itself.
Muso: Musician
Servo: Service (petrol) station
Smoko: Smoke break

"Bloody" used in pretty much any phrase or even built into words - "Bloody right!!" or "abso-bloody-lutely!"

Often all of these are combined. This is an actual radio news bulletin I heard one afternoon (This is 100% serious, I nearly died laughing):

"... and there was a bit of agro this arvo, down at the local servo when a garbo crashed into the pump. As a precaution the ambo's and the firies were called out to ensure there was no danger!"

Genius!!

For more, have a look at this this fairly entertaining website for further clarification (new browser window): www.aussieslang.com

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