Waikato business said it had not been trading since September 2022 and was insolvent.

The NSW government has urged the federal government to review the capital gains tax, saying it is having a damaging effect on housing affordability and home ownership and is disproportionately skewed to benefit wealthy investors over first-home buyers.

The capital gains tax (CGT) discount, a 50 per cent reduction on investments held for over 12 months, was welcomed when it was first introduced by the Howard government in 1999, but has more recently been blamed for contributing to the country's housing crisis.

In a submission to a select committee investigating the discount, NSW Treasury called for it to be reduced or reworked due to the "major implications" it has had across Australia, but particularly in the state.

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"While intended to encourage long-term investment, the discount has contributed to increased investor demand for property, placing upward pressure on housing prices and exacerbating affordability challenges," the submission read.

"These effects have, in turn, made it more difficult for first-home buyers to enter the market, contributing to declining home ownership rates."

Australian home ownership rates have dropped from 71 per cent in 1999-00 to 66 per cent in 2019-20, according to the Australian Bureau of Statistics data.

The decline was also seen in lending patterns.

Data calculated by the Treasury showed $13 billion was lent to investors and $10 billion was lent to first-home buyers in Australia in 1994.

Last year, $139 billion was lent to investors, more than double the $64 billion lent to first-home buyers.

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Treasury wrote that the CGT discount benefited higher-income earners the most, and reducing the discount would reduce demand from investors and lead to either lower property prices or slower increases in property prices.

"The scale of the concession, its concentration among wealthier investors, and its role in distorting investment behaviour, particularly in the housing market, all highlight the importance of reconsidering the current settings," the submission read. 

Federal Treasurer Jim Chalmers has repeatedly ruled out any changes to the discount.

Labor has campaigned for CGT discount reductions in the 2016 and 2019 elections, but lost both times to the Coalition.

Australia has lost $23 billion in potential revenue due to the discount, with $8.7 billion of that from NSW.

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At least 22 people have been killed and another 79 are injured after a crane collapsed onto a train in Thailand.

It is believed a train travelling north from Bangkok was derailed when a construction crane fell onto a carriage as it was passing through Ban Thanon Khot in Nakhon Ratchasima.

A further seven people are feared dead after a car caught fire nearby.

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The State Railway of Thailand confirmed 195 people were travelling on the train when the crane fell.

The accident occurred about 9am local time (approx. 1pm AEDT) when a crane being used in the construction of a high-speed rail bridge fell onto a train.

Some of the passengers were school students, according to authorities.

Rescue operations are under way.

The State Railway said there would be a "thorough" investigation into how the incident occurred.

More to come.

There are renewed calls for e-bikes to require number plates after two separate incidents across Sydney involving teenagers colliding with cars while riding the electronic vehicles.

Two 16-year-olds were struck by a Mercedes-Benz on Birrell Street in Bondi yesterday while riding e-bikes.

The driver of the vehicle was uninjured and the pair escaped with only minor injuries before being taken to Sydney Children's Hospital.

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The same day in Crows Nest, three 15-year-olds on an e-rideable bike were struck by a car.

The trio walked away with minor injuries. 

The NSW government recently introduced new safety laws reducing the power and speed of e-bikes, however, NSW opposition transport spokeswoman Natalie Ward told the Sydney Morning Herald that more could be done to prevent safety incidents.

Ward believes that licence plates for specific groups, including people under 18, are a necessary step to minimise the number of e-bike crashes.

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Others who could be targeted include those who use e-bikes for commercial purposes and commercial shared service schemes.

"For young riders, accountability can't just be a trip to the hospital emergency room," Ward told the Nine newspaper.

"The overwhelming community view is to take action on these unaccountable rider cohorts who need enforcement and behaviour change before it is too late."

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The Liberal plan would also include new penalties for non-compliance, alongside educating young riders so that the risks associated with e-bike technology and how to use them safely are understood.

"I am hearing loud and clear that the community wants enforcement and accountability for e-bikes that prevent crashes, the opposition has a plan to deliver it, while the government tinkers," Ward said in a statement.

"This isn't complicated. If Labor don't like our solution, what is their plan?

"It's time for action and accountability, whether it is an e-bike rider or the transport minister."

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The tiny hydromedusae are invisible to swimmers but carry up to 100 tentacles.

The driver inhaled foam and suffered swelling around her eyes and is recovering at home.

Kumeroa Tuhaka was caught with undersized shellfish in an area of cultural significance.

The pole is now leaning against a building on Portage Rd.

BTS are coming to Australia, but you'd be forgiven for not knowing what those letters mean or why it's such a big deal.

The mega-popular South Korean boy band last performed on Australian soil back in 2017 and haven't performed publicly since 2022, when mandatory military service forced them to disband.

Now BTS are back together and they just announced a massive world tour for 2026 and 2027, including four Australian dates.

Here's what you need to know about BTS before they kick off their Australian shows next February.

Who are BTS?

BTS are a South Korean boy band that have found major international success, especially with the spike in global interest in K-pop in recent years.

The name BTS stands for "Bangtan Sonyeondan" or Bangtan Boys and the band consists of seven members, many of whom go by stage names.

BTS' members are:

• Jin: Kim Seok-jin, 33
• Suga: Min Yoon-gi, 32
• J-Hope: Jung Ho-seok, 31
• RM: Kim Nam-joon, 31
• Jimin: Park Ji-min, 30
• V: Kim Tae-hyung, 30
• Jung Kook: Jeon Jung-kook, 28

Formed in 2010 as a hip-hop group, they debuted (a common K-pop term referring to an idol or group's launch after years of training) in 2013.

At the time of their debut, the members were aged between 15 and 20.

They quickly achieved mainstream and commercial success, which grew until they were the most successful boy band in South Korea, then Asia, and the world.

Why are BTS a big deal?

BTS's popularity has grown exponentially over the last decade, especially on social media, where they have a dedicated fanbase that goes by the name "ARMY".

It stands for "Adorable Representative M.C. for Youth".

By the late 2010s, they'd built a strong international fanbase, including a significant Western audience.

They were the first K-pop group to ever win a Billboard Music Award in 2017 and the first to perform on Saturday Night Live in 2019.

It should come as no surprise then that BTS are credited as one of the most influential groups to help bring K-pop into the global spotlight.

As well as making award-winning music, they have secured brand deals with giants like Samsung, Dior, and Louis Vuitton, and backed a number of charitable and social causes.

Why is the BTS World Tour a big deal?

This will be BTS's first major tour since all members completed their mandatory military service, making it a landmark moment for the band.

All able-bodied South Korean men are expected to complete up to 21 months of military service, usually by the age of 28.

When Jin, the band's oldest member, turned 29 in 2021, it sparked concerns that the band would have to take a step back from the spotlight for an extended period.

Though the members had been allowed to postpone their service until they turned 30, they couldn't put it off forever.

In late 2022, BTS announced they'd be taking a break for all members to complete their mandatory service.

Jin enlisted in December that year, followed by his six bandmates, who staggered their enlistment.

Jin was officially discharged in June 2024 and Suga became the final member to be discharged 12 months later.

BTS publicly reunited on a livestream in July last year to promise fans new music and a world tour; a promise they made good on in January 2026.

When are BTS coming to Australia?

The band announced their 2026-27 BTS World tour on January 13, with the Australian leg set to kick off in Melbourne on February 12, 2027.

They will perform four shows in Australia; two in Melbourne and two in Sydney.

Concert dates are as follows:

• Melbourne – Friday, February 12, 2027
• Melbourne – Saturday, February 13, 2027
• Sydney – Friday, February 20, 2027
• Sydney – Saturday, February 21, 2027

The last confirmed concert date before they fly to Australia is slated for Jakarta, Indonesia, on December 27, 2026.

Fans have speculated that could allow the band to announce additional Australian dates for January or early February 2027.

After their second Sydney show, BTS are slated to perform in Hong Kong on March 4, 2027.

When do tickets go on sale for the BTS Australia tour?

There will be a presale on January 22 and 23 for select fans.

It will only be open to ARMY Membership holders who sign up on the online fan platform Weverse, which is owned by HYBE, the management company behind BTS.

ARMY Membership starts at $US22 ($32) and is currently listed as sold out on Weverse.

General sale will take place on January 24.

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Police seized a motorcycle, a vehicle, and airguns with ammunition.