Precious stone from tiara initially taken by father in Australia (5)
I believe the answer is:
topaz
'precious stone' is the definition.
(I've seen this before)
'tiara initially taken by father in australia' is the wordplay.
'initially' indicates taking the first letters.
'taken by' is a charade indicator (letters next to each other).
'father' becomes 'pa' (pa is a kind of father**).
'in' is an insertion indicator.
'australia' becomes 'oz'.
The first letter of 'tiara' is 't'.
'pa' placed within 'oz' is 'opaz'.
't'+'opaz'='TOPAZ'
'from' acts as a link.
(Other definitions for topaz that I've seen before include "South American hummingbird" , "Yellowish-brown gemstone" , "Precious stone - dark yellow colour" , "Yellow quartz used for gemstones" , "White or colourless gemstone" .)