The more densely populated southern half of the shire consists of low rolling hills given over primarily to dairy farming and other agriculture.

The northern half lies in the Great Dividing Range and its foothills, where forestry remains an important industry.

[citation needed] The historic gold-mining town of Walhalla is located in the northeast of the shire is a major tourist drawcard.

The major electricity-producing region of the Latrobe Valley lies immediately to the shire's east and south.

Aberfeldy is located in the far north east of the shire above the Thomson Dam, which supplies 50% of Melbourne's water.