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Background/Objectives: In response to the COVID-19 pandemic, Australian state and federal governments enacted boarder closures, social distancing measures, and lockdowns. By the end of October 2020, the 112-day lockdown in the Australian state of Victoria was the longest continuous lockdown period internationally. Previous studies have examined how the COVID-19 pandemic and government restrictions have affected Australians' mental health and well-being; however, less is known about the relationship between psychological variables and well-being. Methods: We administered a national survey of Australians aged 16 years and over (N = 1380) in November 2020 to examine the psychological factors that promoted and hindered Australians' well-being and resilience during the first year of the pandemic. Results: Our study found that Australians reported normal to moderate levels of anxiety, moderate stress, mild depression, and moderate to high loneliness. Interpersonal trust was consistently a protective factor for well-being and resilience and was associated with less depression, anxiety, stress, and loneliness, and greater resilience. Participants with greater inhibitory anxiety (intolerance of uncertainty) and an external locus of control were more likely to be depressed, anxious, stressed, and lonely, and less resilient, compared with those with less inhibitory anxiety and those who believed that these outcomes were determined by their own actions. COVID-19 beliefs were associated with more depression, anxiety, stress, and resilience. Conclusions: This study seeks to inform the development of mental-health, well-being, and resilience strategies by government agencies, non-government organisations, and healthcare providers in times of crisis and in "ordinary" times. [ABSTRACT FROM AUTHOR]