Flyhalf Gareth Anscombe scored a try and kicked 17 points to steer New Zealand past Australia 37-7 at Treviso to reach Sunday's final, while Leicester pivot George Ford crossed for a try and kicked 18 points in England's 33-18 win over France.
After winger Tevita Kuridrani crossed to give Australia the lead in the 13th minute, Francis Saili, Charles Piutau, Anscombe and Brad Weber scored unanswered tries to stretch New Zealand's unbeaten streak to 19 championship matches as they move one game away from a fourth successive title.
Saracens fullback Ben Ransom, Wasps winger Christian Wade and Newcastle No 8 Alex Grayalso also scored tries in England's win as the lead changed hands four times in a tight encounter.
In the 5th-place semi-final, South Africa ran riot over Ireland 57-15, and will now face Fiji for 5th place in Treviso on Sunday. The match kicks off at 14:10 (SA, CAT, GMT+2).
The final between England and New Zealand starts at 19:10 (SA, CAT, GMT+2) in Padova.