That's Life is a weekly Australian magazine which carries fiction. They also have a quarterly fiction special called Fast Fiction. You can find the official guidelines for both here. These do change, for example the rules about 'rights and exclusivity' have been updated, so do check regularly.You can also download a copy of the writer's agreement, or contract, which you'll be asked to sign if your story is accepted.
I haven't been to Australia, so I'm illustrating the post with one of their suggested themes.
