If created from the portal a VM will have the UTC time zone by default. This can be a problem for applications, schedulings tasks, etc.
Change to the /etc directory and delete the localtime file
All the time zones are listed under the /usr/share/zoneinfo directory
Create a link with your selected timezone, Melbourne for me. Remember to do this in the /etc directory
Verify is correctly set to the proper time zone
No reboot required.