This may well be the last of the "Best of 2008" lists given it's now February: but, then again, maybe not.
Locus magazine covers the sf scene (which includes fantasy, horror and that sort of stuff) and has now published its list of recommended reading for 2008. Australian entries I discovered:
SF Novel
Incandescence by Greg Egan
Young Adult Books
Monster Blood Tattoo: Lamplighter by D.M. Cornish
The Two Pearls of Wisdom by Alison Goodman
Tender Morsels by Margo Lanagan
How to Ditch Your Fairy by Justine Larbalestier
Collections
Dark Integers and Other Stories by Greg Egan
Anthologies
Dreaming Again edited by Jack Dann
Eclipse Two edited by Jonathan Strahan
The Starry Rift edited by Jonathan Strahan
Anthologies - Best of the Year
The Best Science Fiction and Fantasy of the Year Volume Two edited by Jonathan Strahan
Art Books
Tales from Outer Suburbia by Shaun Tan
Novelletes
"Crystal Nights" by Greg Egan (Interzone 4/08)
"Lost Continent" by Greg Egan (The Starry Rift)
"Machine Maid" by Margo Lanagan (Extraordinary Engines)
"Beyond the Sea Gate of the Scholar-Pirates of Sarsköe" by Garth Nix (Fast Ships, Black Sails)
"Infestation" by Garth Nix (The Starry Rift)
Short Stories
"The Fooly" by Terry Dowling (Dreaming Again)
"The Fifth Star in the Southern Cross" by Margo Lanagan (Dreaming Again)
"The Goosle" by Margo Lanagan (The Del Rey Book of Science Fiction and Fantasy)
"Ardent Clouds" by Lucy Sussex (The Del Rey Book of Science Fiction and Fantasy)
"Ass-Hat Magic Spider" by Scott Westerfeld (The Starry Rift)