The Polar Bear Swim is a Canadian tradition held every New Year's Day (the day this cache was hidden) where people go down to the cold waters for a dip. Although this isn't the same experience in Australia where it is summer on January 1st, none the less you could go for a swim since this cache is located adjacent to the water.
At time of hiding the cache contained plastic ants, log book, and a sand dollar from British Columbia, Canada.
Partial spoiler: This particular geocache uses my standard international cache container. You can learn more about these containers here.
Svaq na rkcbfrq 1 z uvtu puhax bs ebpx jvgu irtrgngvba ng gur onfr jurer gur pnpur vf