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Although the falls itself may not be very impressive, it's very easily accessible as you can just park and find the waterfall at the instant (no walking required).
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The Tarra Valley Rainforest Walk (coloured on map) is an easy 1.4-km 40-minute return walk, passing through ancient myrtle beech forest from over 20 million years ago. Unfortunately, much of the area today has been slowly taken over by eucalypt trees, but it remains strong in the area it survives in.