A blistering century from Ross Taylor allowed New Zealand to grab a slender lead over Australia on the second day of the second Test at Seddon Park in Hamilton.
New Zealand was bowled out for 264 after 63.3 overs to take a 33-run lead over the visitors at tea.
Taylor struck a magnificent 138 and was the only solid performer for New Zealand, which was left disappointed after dismissing Australia for 231 on the first day.
Mitchell Johnson was the stand-out for the Australians with the ball, ending his innings with figures of 4-59, while opening pacemen Doug Bollinger and Ryan Harris each claimed three wickets.
New Zealand had started the day on 1-19 after a magnificent opening session with the ball when it bowled Australia out - skipper Daniel Vettori and Tim Southee each picking up four key wickets.
With all the pressure on New Zealand to capitalise on a near-perfect opening day, Matthew Sinclair and BJ Watling looked solid until Johnson made an early breakthrough.
Sinclair (11) was looking comfortable until a magnificent in-swinging delivery from Johnson found an inside edge and smashed into the off-stump.
Taylor then entered the game and had an immediate impact, taking the striking responsibilities from Watling and quickly notching a half-century before Australia claimed its second scalp of the day.
Bollinger ended what was shaping to be an inspired partnership when he bowled Watling out for 46 runs, leaving New Zealand looking a little more vulnerable on 3-114.
After Guptill (four) and Vettori (15) both lost soft wickets around lunch, the pressure was all on Taylor and Brendon McCullum to at least reach the Australian total.
Shane Watson dropped Taylor on 90 in the slips, the third time he had been dropped in his innings.
The luck was just what Taylor needed as he soon claimed his fifth, and New Zealand's fastest ever, Test match century off 81 balls with 17 fours and one six.
Johnson made another huge breakthrough for Australia however when he claimed McCullum's wicket for five, leaving New Zealand still 38 runs behind and with only the tail to come.
Taylor's onslaught continued, however, and he took a particular liking to Nathan Hauritz, belting the spinner for 25 runs from one over.
After Jeetan Patel was caught by Ricky Ponting for seven runs, Taylor's luck finally ran out when he was given out after a referral on 138, his highest score against Australia.