Prime Minister Anthony Albanese said it was time to do better on planning and work together across jurisdictions.

"We need to respond as governments, not political parties," Mr Albanese said while standing alongside NSW Premier Dominic Perrottet.

The $520 million buyback scheme is the centrepiece of an $800 million package co-funded by the NSW and federal governments to give 2000 flood-impacted residents the opportunity to raise, repair or retrofit their houses.

It comes as Victorians continue to clean up following flooding down south, with farmers counting the cost to crops.

About 60 warnings remained active across the state today, including an evacuation order in Kerang, which was isolated late yesterday as the final road out of the town became too dangerous for vehicles.

More than half of Australia's local government areas have been slammed by natural disasters since the start of the year.

The nation has been hit by more than 40 natural disasters across more than 280 local government areas, with top bureaucrats warning the system is under pressure.

The head of the National Emergency Management Agency admitted concurrent natural disasters were straining resources.

"Since the Black Summer bushfires, many of our communities have been in a constant state of response and recovery," coordinator-general Brendan Moon told parliamentarians.

In a storm of a different kind, Elon Musk has become Twitter Inc's new owner.

The billionaire began his reign by firing top executives he accused of misleading him, providing little clarity over how he will achieve his many lofty ambitions for the social media platform.

He also tried to calm fears among employees that major lay-offs are coming and assured advertisers that his past criticism of Twitter's content moderation rules would not harm its appeal.

"Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!" Musk said in an open letter to advertisers.

In other tech news, the "wild west" of cryptocurrency is starting to gain the acceptance and understanding of lawmakers.

Robert Francis, managing director at trading platform eToro Australia, said the explicit acknowledgement of crypto in the Australian federal budget was a first, with new tax laws to be introduced to Parliament.

"It shows a step forward towards crypto and blockchain technology integration in the traditional financial system," Mr Francis said.

In West Australia, police are examining allegations racial slurs were made towards Cassius Turvey, the 15-year-old Indigenous teenager killed while walking home from school.

Mr Albanese has paid tribute to the teenager's family, saying the Indigenous boy's alleged murder was "clearly" racially motivated.

Police are yet to speculate on any potential motive.

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