Ahead of Microsoft's E3 press conference later today, Mark over at Kotaku has confirmed that the Australian pricing for the Xbox One will be $599 when it launches in November year. The US price will be $US499.
While that's a price premium for Australia, it isn't a massive one; bear in mind that the US price isn't tax inclusive, so once you add in GST, you're looking at closer to $550. Allow for currency variations and the gap isn't enormous.
As several Kotaku commenters note, it's a much smaller difference than with previous generation consoles, where differentials of several hundred dollars occurred. The pricing is also much lower than the $899 guesstimate which retailers who offered pre-orders quoted. Whether that price will overcome reservations about needing constant connectivity and not being able to sell games remains to be seen.