There has been plenty of reaction to the federal government's wide-reaching plan to save billions of dollars in NDIS spending by cutting participants and overhauling eligibility. 

Iran has seized two civilian ships in the Strait of Hormuz, in the latest escalation in the war with the United States.

Domain says its latest rental report is a clear indication households cannot stretch their budgets any further.

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New data suggests a government scheme to address housing affordability may actually be contributing to higher costs, while another report shows the rental market is reaching breaking point. 

The disability sector and families are digesting big changes to the NDIS to rein in billions of dollars in costs.

Iran says it will not reopen the crucial oil shipping passage, the Strait of Hormuz, while the US blockade remains in place.

New analysis from property analytics firm Cotality appears to show a federal government first home buyers scheme is fuelling a price surge at the lower end of the market.

A regional New South Wales council is temporarily suspending kerbside green waste collection to preserve fuel, during the ongoing national crisis.

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Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

The government has announced sweeping reforms to the National Disability Insurance Scheme in an effort to reel in spending.

New eligibility assessments, a scaling back of community support plans, and a crackdown on unregistered providers are among the changes.

NDIS minister Mark Butler says about 160,000 participants will be taken off the scheme by 2030.

Under the reforms the projected cost of the NDIS drops from $70 billion by the end of the decade to $55 billion.

The federal government has revealed it will reduce the private health insurance rebate for Australians over the age of 65.

The decision brings the rebate in line with that paid by younger Australians.

It's set to save the government $3 billion over four years which will be spent on aged care.

A senior Iranian advisor says US President Donald Trump's ceasefire extension means "nothing" and is "certainly a ploy to buy time for a surprise strike".

Iran's foreign ministry earlier said that they're still undecided on attending peace talks, as the US has shown a lack of seriousness.

Iranian media say the continuation of the US blockade of Iran's ports amounts to continued hostility, adding that Iranian troops will break it by force if necessary.

Eligibility assessments for access to the National Disability Insurance Scheme are changing under a suite of reforms announced by the federal government today.

NDIS Minister Mark Butler has outlined changes, including the introduction of standardised assessments for access to the scheme which will be rolled out from 2028.

The measure are aimed at bringing the projected cost of the ballooning program down to $55 billion by the end of the decade.

Iran has questioned Donald Trump's motives for extending the ceasefire between the two countries hours before it was due to expire.

The US president says Pakistani officials had requested the move due to the fractured Iranian government.

But Iran has accused the US of buying time to plan a surprise attack.

The stock price of one of Australia's biggest healthcare companies, Cochlear, has crashed, bringing the broader market down with it.

Cochlear has rattled investors by slashing its profit outlook, it stock has plunged by almost 40 per cent

Meanwhile, renewed concerns about the Middle East war have outweighed initial optimism over solid corporate earnings, despite US President Donald Trump extending the ceasefire.

The ASX 200 closed the day 1.1 per cent lower.