"Publisher's Weekly" is first out of the blocks this year with its list of 2007's Best Books. I've named this entry "#1" as I suspect we'll be seeing quite a lot of these in the coming weeks.
Australian books on the list:
Evil Genius by Catherine Jinks "A web of criminal machinations infiltrates every aspect of an impossibly brilliant boy's life in this thoroughly entertaining and engrossing novel."
Red Spikes by Margo Lanagan "Rarely do YA readers find such uniformly strong short fiction as in Lanagan's dark and provocative fantasy collection of 10 stories, striking for their beautiful, quirky language and deep psychological insight."
The Complete Stories by David Malouf "Australia's stark landscapes are at the harsh, violent center of a career's worth of Malouf's fictions, where relationships enter uncharted territory."
The Arrival by Shaun Tan "This startling wordless tale chronicles an immigrant's attempt to build a new life through lush, sepia-toned illustrations of an enigmatic alternate universe."