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ocker (n) an unsophisticated person, a laid-back character, uncouth Aussie male
 
ockie strap (n) bungee cord
From "octopus."
off one's face (adj) describing one who is drunk
 
off with the fairies (adj) describing one who is a bit loony
 
offsider (n) sidekick, assistant, helper
 
Oi! "Hey!"
 
oil (adj) information
"Give the oil on that project."
old fella (n) penis
 
oldies, olds (n) adults, parents, seniors
"Let's ask the olds if they know."
omelette (n)
(Chinese restaurant)
egg foo yung
 
on a good lurk (adj) on a good job
 
ono (adj) abbreviation in classified ad for or near offer
Used the same as "obo" ("or best offer") in U.S.
on the back foot (adj) on the defensive
 
on the bones of his bum (adj) destitute, broke
 
on the mend (adj) getting better
 
on the nose (adj) bad-smelling, stinky
"Your dog's a bit on the nose."
on the turps (adj) drunk
 
on your bike (v)
(pronounced onyerbike)
get out of here, go away, get going
 
onya short for "good on you," i.e., "well done"
commonly used as a congratulation
op shop (n) thrift store
opportunity shop
open slather (adj) a situation where there are no limits or constraints on behavior.
"Liberalizing liquor store hours would give open slather to public drunkenness."
oregon, oregon pine (n) light American pine wood used in furniture, panelling
technically referring to Douglas Fir, grown as a crop in Australia
O.S. (adj) overseas
"Les is O.S."
outback (n) distant Australian bushland
 
outcome (n) (adj) results
 
outgoings (adj) expenditures
 
oval (n) athletic field or stadium
 
over east (adj) the east coast of Australia
 
overtime loadings (n) overtime pay
 
oysters (motion pictures) to shoot in available (or natural) light
From "oysters natural"
Oz (n) Australia
 
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