The First Grade Competition consisted of 6 teams in 1934, Acton, Ainslie, Eastlake, Goulburn, Manuka and Queanbeyan.
At the end of the home and away season Ainslie finished in third place with 10 wins and 5 losses.
Ainslie played Acton in the first Semi-Final at Manuka Oval.
The Semi-Final team was:
Williams, Sutton, Lalor, Loftus, C Moore, D Moore, Bryan, McNamara, Peacock, Spendelove, James, Leeder, Lyng, Atkinson, Neill, Martin, Gribble, Boag, Southwell, Maxwell.
Ainslie defeated Acton by 44 points winning 8.16-64 to 3.2-20 to go through to the Preliminary Final.
Best for Ainslie: C Moore, Spendelove, Gribble, Atkinson, James, Sutton, Lalor and Martin.
The Preliminary Final between Ainslie and Manuka was played at Northbourne Oval.
The Ainslie team was:
Williams (Capt.), Sutton, James Tantau, Lalor, McNamara, Martin, Lyng, Neill, Atkinson, Spendelove, Gribble, C Moore, D Moore, Bryan, Boag, Leeder, Peacock, Loftus, Southwell, Pfister.
Ainslie were ahead at half time by 11 points but kicked only 11 behinds and no goals in the second half to go down by 33 points to finish in third place.
Final score: Ainslie 6.19-55 def by Manuka 13.10-88.
Goal kickers for Ainslie: Peacock 3, Loftus 1, D Moore 1, Lalor 1
Best: Lalor, Spendelove, Boag, Martin, C Moore, Peacock, Atkinson, Leeder, Loftus
Ainslie showed great improvement in 1934 after not playing in the finals since 1930.
Eastlake defeated Manuka in the Grand Final to win their fourth Premiership.
Ainslie Juniors finished on top of the ladder and won every home and away game.
They played the Baptists team in the Second Semi-Final and won by 49 points.
- Final score: Ainslie 10.7-67 def Baptists 3.0-18
- Best for Ainslie: Connelly, Mulligan, Nichols, McInerney
Baptists defeated Telopea Park in the Preliminary Final to set up a rematch against Ainslie.
The Ainslie Grand Final Team was selected from:
- Kennard Brothers
Ainslie defeated the Baptists Team in the Grand Final to win their fourth Premiership in four years.