Ben Smith scored a hat-trick as New Zealand ruined Ewen McKenzie's first match as Australia coach with a dominant victory in the Bledisloe Cup opener in Sydney.
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Aaron Cruden scored a try and kicked six from eight attempts for a 20-point haul while captain Richie McCaw led by example with a dominant 72-minute performance in his first Test back from a six-month lay-off.
Christian Lealiifano kicked a perfect seven from seven with the boot and was one of the few Wallabies, alongside Michael Hooper, to shine.
New Zealand scored three tries to one in the first half to lead 25-19 at the interval, although a late try by Will Genia and four Lealiifano penalty goals kept the Wallabies firmly in contention.
The hosts closed to within three points with another Lealiifano penalty goal seven minutes into the second period but the world champions hit back with three tries to Conrad Smith and Ben Smith (two) as they piled on 22 unanswered points en route to a crushing six-tries-to-two triumph.
James O'Connor scored a consolation try in the 80th minute.
New Zealand's 100th Test victory over Australia moves Steve Hansen's side within one win of retaining the Bledisloe Cup for the 11th straight year.
The two sides meet again in Wellington next Saturday and again on October 19 in Dunedin, with the Wallabies needing to win two Tests on New Zealand soil for the first time since 1949 to reclaim the trophy.
The visitors made a dream start when Ben Smith crossed in the corner in just the third minute after an early knock-on from Stephen Moore.
Lealiifano had his radar working early and answered with penalty goals in the eighth and 13th minutes to close within a point.
The All Blacks were next to score through a Cruden penalty but Lealiifano answered with consecutive kicks to give the Wallabies their first lead of the contest at 12-10 in the 28th minute.
But the lead was short-lived as Cruden charged down a clearing kick from Lealiifano and dived on the ball for the All Blacks' second try one minute later.
The visitors moved further in front when Conrad Smith fired a brilliant ball for McCaw who was standing on the wing and dived over for the third try of the half for 22-12.
Genia hit back with a 75-metre try after Hooper swooped on a lost ball from an All Blacks line-out and found Genia looming up on the inside.
Lealiifano added the extras to close within three before Cruden kicked a penalty after the siren to take a six-point lead into the break.
Quade Cooper came on to a chorus of boos from the All Blacks fans in the 62nd minute, replacing debutant Matt Toomua, in his first Test appearance since last September.
But the controversial playmaker had little impact on the contest as Hansen's men opened their Rugby Championship campaign with a bonus-point victory in front of 68,765 fans.