According to APNews:
The nation’s central bank said… its new $5 bill would feature an Indigenous design rather than an image of King Charles III.
The $5 bill was Australia’s only remaining bank note to still feature an image of the monarch.
… Labor Party is seeking to make Australia a republic with an Australian citizen as head of state instead of the British monarch.
Australians voted in a 1999 referendum proposed by a Labor government to maintain the British monarch as Australia’s head of state.