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Transient Astronomy unites a global, multidisciplinary team to study the Universe’s most powerful explosions—transients—probing the limits of physics beyond what Earth-based experiments can achieve. Capturing these unpredictable and complex events requires rapid detection in vast, noisy datasets and swift, global coordinated observations. We will drive innovation in AI-powered transient discovery, data science, cutting-edge theoretical modelling, and hardware advancements to address these unique challenges. We will harness five next-generation astronomical facilities coming online within the next few years, leverage Australia’s geographical advantage and investments, synergise Australia’s research strengths to drive major breakthroughs and position Australia as a global leader. We will train the next generation of talent and industry leaders, advance research that elevates Indigenous astronomical knowledge, and strengthen technological applications across clean energy, health, environment, and space security—aligning with Australia’s science and research priorities.