TWO people are dead after a boating tragedy off Port Fairy this afternoon.
Witnesses say a small boat carrying an elderly couple and their son overturned in choppy conditions.
The three were able to reach the beach, about 600 metres south of the town's golf club but the elderly pair went into cardiac arrest.
Port Fairy Surf Life Saving Club members were called to the scene and started cardio pulmonary resuscitation until paramedics arrived.
It is understood the bodies were about 100 metres apart.
Police are now at the scene interviewing witnesses.
The State Emergency Service unit has retrieved the boat.