After England won the toss and bowled first, Broad picked up his 300th test match wicket with just the third ball of the day, dismissing Australian opener Chris Rogers for a duck - the first duck in Rogers' test career.
Just three balls later, Broad had 301, with star batsman Steve Smith departing to a superb delivery, caught in the slips by Joe Root.
Fellow opening bowler Mark Wood then got in on the action, dismissing David Warner for a duck, before Broad made Australia's misery even greater by taking the scalps of Mitchell Marsh (0) and Adam Voges (1).
Under-pressure skipper Michael Clarke had a great opportunity to make his case for continued selection, but he could only make 10 before being Broad's fifth victim - caught in the slips after flailing at a wide delivery.
Wicket-keeper Peter Nevill then had his stumps removed by Steven Finn - being the first player not caught behind the wicket - before Mitchell Starc nicked one to fourth slip to make it eight wickets in just 12 overs.
Seamer Mitchell Johnson made 13 before being Broad's seventh victim, reducing Australia to nine wickets down, without having passed the 50 mark.
The last-wicket duo of Nathan Lyon and Josh Hazlewood got the score to 60, staying together for the longest partnership of the innings - 5.3 overs - but Broad capped off one of the best displays ever by an English bowler with his eight wicket, and sending Australia back to the sheds just 100 minutes after they arrived.
As a result of their dominance, England were made to bat before lunch, and showed that there were few demons in the pitch, easing through to 13-0 to complete a stunning first session.