If you have a Telstra Gateway Max, you may be waiting for a long time. While it's nowhere posted, looks like Telstra did a firmware update last night and it went horribly wrong. The update has pretty much forced the device into a continuous reboot the moment you try to connect to it via Wi-Fi or Ethernet.
I just replaced it with a Netgear modem and that works just fine. I'll be boxing up my Gateway Max this morning and drop down to the Telstra store requesting they replace it.
If you don;t have a Telstra Gateway Max, probably a different issue but the Telstra service outage notice board is correct. Their services are working, what it did to your modem at home... different story.