The New South Wales Premier Chris Minns has expressed his condolences after two Marine Rescue volunteers and another person died, in a boating tragedy at Ballina on the state's north coast.

Emergency services responded to reports a yacht was about to hit the  South Ballina breakwall last night.

Police say the Marine Rescue crew went out to help, but their vessel rolled in rough conditions while crossing the Ballina Bar.

The federal opposition is accusing the government of undercutting the public's trust, as it prepares to make changes to negative gearing and the capital gains tax discount as part of next week's budget.

While the details are yet to be confirmed, the government is arguing it needs to do more to help younger Australians, despite it promising at last year's election it wouldn't touch negative gearing.

The opposition says it's a broken promise and has questioned the benefit.

Donald Trump says the war with Iran is 'working out very nicely' and has referred to it as a 'mini war' as tensions spike in the Strait of Hormuz.

The US president yesterday announced that his military will help guide ships out of the oil shipping channel, where about 20,000 seafarers remain stuck.

But Iran has warned America not to interfere in the strait and fired shots at US warships, while the US says it struck several Iranian fast boats.  

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A search operation has been suspended this morning after a fatal boating incident in waters off Ballina on the NSW north coast last night.

Three people including two local Marine Rescue volunteers, died during the operation to help a yacht in distress.

Six crew were sent out but their vessel rolled while crossing the Ballina bar.

A person on the yacht also died.

An armed man has been shot by Secret Service officers near the White House, just over a week after an assassination attempt on President Donald Trump.  

The agency says the suspect opened fire and was wounded when they returned fire.

The alleged gunman is now in hospital, but his condition is unknown.

Iran has called Donald Trump's mission to guide stranded ships out of the Strait of Hormuz 'Project Deadlock'.

The US president yesterday announced his military will help guide vessels out of the oil shipping channel, labelling the operation 'Project Freedom'.

Iran insists it controls the strait and has fired warning shots at American warships, with the US in turn striking several Iranian fast boats.

The Iranian foreign minister says while indirect peace talks are making progress, its clear there's no military solution to a political crisis.

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Three people have died in a boating tragedy off the NSW North Coast.

Police have confirmed two members of the local Marine Rescue organisation are among the dead, after their rescue craft rolled on the Ballina bar early last night as the crew went out to help a yacht in distress.

One person was winched from the water by a rescue helicopter crew, while three other people made it to shore, where they were treated by paramedics.

A search for survivors has been suspended after inquiries indicate that no other people were on board the yacht at the time.

The man charged with the murder of Kumanjayi Little Baby will face court this morning, with the hearing marking the first time an NT criminal proceeding is live-streamed to the public.

Jefferson Lewis was arrested on Saturday after the five-year-old girl went missing from an Alice Springs town camp last month, sparking a five-day search.

Mr Lewis is facing one count of murder and two other charges that cannot be published for legal reasons.

He'll appear via video link in the Alice Springs Local Court.

The Reserve Bank is widely expected to increase interest rates again when it wraps up its two day board meeting this afternoon.

A steep rise in inflation caused by the jump in fuel prices amidst the war in  the Middle East is expected to contribute to the RBA's forecast move to raise rates to 4.35%.

It would be the third such increase this year and take the official cash rate back to where it was in 2024.

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For more news, politics and current affairs podcasts go to ABC listen.

Three people have died in a boating tragedy off the NSW North Coast.

Police have confirmed two members of the local Marine Rescue organisation are among the dead after their rescue craft rolled on the Ballina bar early last night as the crew went out to help a yacht in distress.

One person was winched from the water by a rescue helicopter crew, while three other people made it to shore, where they were treated by paramedics.

A search is continuing for any survivors.

US President Donald Trump warns there'll be a dramatic escalation in the war with Iran if American ships near the Strait of Hormuz are targeted.

The US claims to have destroyed six Iranian boats and intercepted cruise missiles and drones, while Iran claims to have fired warning shots at US ships.

Mr Trump says the US Navy has assisted two US-flagged ships to move through the strait but as many as 2000 vessels remain unable to move.

Next week's federal budget will include changes to capital gains tax, negative gearing, and trust-fund rules, as the Albanese government braces for a fierce debate about housing, wealth and intergenerational fairness.

Several government sources have confirmed negative gearing will be pared back in future but will be fully grandfathered for existing investments

It's a shift from a pre-election commitment not to rein in tax concessions for investment properties.

The capital gains tax discount is also set for an overhaul and trusts could face a new minimum rate of tax.

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For more news, politics and current affairs podcasts go to ABC listen.

Location tracking apps have become a normal part of life, but some young adults say they feel stifled by their parents tracking them even after they turn 18.

The federal budget will be handed down next Tuesday, outlining the government's revenue and spending for the next four years.

Budgets serve as the centrepiece of a government's agenda and the measures announced must be approved by parliament.

The Treasurer Jim Chalmers has flagged a taxation shake-up as part of this budget, his fifth since Labor took office.

A search is resuming off the NSW North Coast after an overnight boating tragedy in which three people have died.

Marine Rescue responded to reports of a yacht in trouble off the South Ballina breakwall early yesterday evening, but the rescue vessel rolled in rough conditions while crossing the Ballina Bar.

Paramedics rushed to the scene, with one man winched to safety and three others making it to shore.

It's not known whether the three confirmed dead by police were on board the Marine Rescue vessel or were on the yacht.

The United Arab Emirates is threatening to become directly involved in hostilities with Iran, after Iranian missile strikes hit its oil production facilities, an Emirati tanker and injured several civilians.

A statement from its Foreign Ministry last night condemned the attacks as a "dangerous escalation" and a direct threat to the country's security, saying Abu Dhabi reserved its "full and legitimate right" to respond.

Meanwhile US military commanders say they've destroyed several Iranian naval boats and intercepted cruise missiles and drones as they attempt to reopen the Strait of Hormuz.

Economists are tipping the Reserve Bank will increase interest rates again later today, which would be the third such increase this year

Headline inflation came in at 4.6 per cent last week, driven in most part by high fuel prices.

The RBA's preferred measure of underlying inflation - which excludes fuel and other volatile items - came in steady at 3.3 per cent, but that's still above that 2-3% target range the RBA is aiming for

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Three people are confirmed dead, while four others have made it to shore after two vessels got into trouble early last night off the NSW North Coast.

Police say member of the public called emergency services around 6pm yesterday to report a yacht was in trouble off the South Ballina break wall

A crew from Marine Rescue NSW responded, but their vessel rolled while crossing the Ballina Bar in heavy conditions.

It's not known how many people were on the yacht, which is believed to have sunk.

The search will resume this morning.

Renewed Iranian missile strikes on the United Arab Emirates have raised the spectre of the oil rich nation becoming directly involved in hostilities in the Gulf.

The Gulf state's defence ministry says three missiles were intercepted over its waters, and that a drone attack at its biggest petroluem complex in Fujairah caused a large fire.

The UAE Foreign Ministry condemned the renewed Iranian attacks as a "dangerous escalation", saying Abu Dhabi reserved its "full and legitimate right" to respond.

Iran says it had no plans to target the UAE following the accusation.

Federal opposition frontbencher Andrew Hastie says an inquiry into the issues that led to the death of Kumanjayi Little Baby in Alice Springs last week is needed now.

The five-year-old was allegedly murdered last week, with 47-year-old Jefferson Lewis charged at the weekend.

The family of Kumanjayi Little Baby say justice should take its path and have called for the death not to be politicised as they grieve.

But Mr Hastie says now is the time for a royal commission into sexual assault in Aboriginal communities.

Economists are tipping the Reserve Bank will increase interest rates once again later today, which would be the third such increase this year and take the official cash rate back to where it was in 2024.

Headline inflation came in at 4.6 per cent last week, driven in most part by high fuel prices.

The RBA's preferred measure of underlying inflation - which excludes fuel and other volatile items - came in at 3.3 per cent, still above that 2-3% target range the RBA is aiming for

The Royal Commission on antisemitism and social cohesion will today hear more personal accounts of anti-Jewish hate, in the second day of public hearings.

The first hearing block is examining the prevalence of antisemitism, and yesterday heard from a dozen witnesses

They included the daughter of one of the Bondi Beach terror attack victims, and a Sydney Rabbi who detailed how he and staff have dealt with rampant online abuse and criminal threats.

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An uneasy ceasefire between the US and Iran looks shakier than ever.

As the US military began a new operation to help vessels transit the Strait of Hormuz; it says it has destroyed small Iranian boats, intercepted drones and cruise missiles fired at ships.

Meanwhile, Iran has also renewed missile strikes on the United Arab Emirates.

Dialysis units across Australia and New Zealand are being forced to ration lifesaving care for patients with kidney failure, according to a major new report.