 It was the thirty seventh Australian Grand Prix and doubled as round seven of the 1972 Tasman Series and was held only 3 months after the 1971 race.Defending winner Frank Matich started the race on pole in his Repco Holden powered Matich A50 which had won the 1971 race on debut.New Zealand's Graham McRae started alongside Matich on the front row in his Leda GM1-Chevrolet.