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Two Sydney men accused of impersonating public officials including federal police officers to steal more than $17,000 from a victim will face court.

Australian Federal Police alleges the men were part of a fraud syndicate that contacted the victim in October last year, claiming to be officials representing the AFP and also from government payments agency Services Australia.

It is alleged they deceived the victim into transferring money and providing them with personal information.

Police say the syndicate stole more than $17,000 from the victim in total.

Officers executed search warrants in the Sydney suburb of Rosehill on Friday.

Two Rosehill men, aged 27 and 26, were arrested and charged with committing an offence for the benefit of an organisation.

The charge holds a maximum penalty of seven years' imprisonment.

The pair were expected to face Parramatta Local Court on Saturday.

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Huge swells have lashed Sydney, swallowing beaches under tide waters and ripping boats from their moorings inside the harbour.

Bondi and Clovelly beaches were flooded over and waves battered the walls of the beachside Coogee Surf Club on Saturday morning.

Inside the harbour near the Manly ferry wharf, boats had been ripped from their moorings, with some vessels washed up on the nearby beach.

A sailing vessel was spotted capsized at Bronte beach with emergency services launching a search for potentially missing crew.

But the search was cancelled after the boat's owner came forward to say it had been ripped from its dock south at Gordons Bay due to the heavy seas.

The Bureau of Meteorology has a hazardous surf warning in place for the NSW coast as winds calmed in Sydney after a night of huge gusts, including one at 74 km/h inside Sydney Harbour.

Across NSW, State Emergency Service crews performed six flood rescues in the 24 hours up to 5am Saturday, with the agency also receiving 468 calls for help over that period.

Elsewhere in the state, flood victims were picking up the pieces for the second time in little over a month.

Byron Shire's deputy mayor says locals had little warning about the damaging conditions that flooded the region for the second time in a month earlier this week.

Sarah Ndiaye has praised the support offered so far by the state and federal governments but says the poor preparation was the result of Canberra's cuts to publicly funded agencies like the CSIRO and Bureau of Meteorology.

"They [the Bureau] removed the flood warning from Mullumbimby and said that the weather had cleared so a lot of our community were caught out," Cr Ndiaye said.

"That was really a shock to people. It was really hard to take after everything we've gone through and there's been so many conversations about where the system failed us in the first place."

She said the community was both exhausted by the double floods and buoyed by the cooperative spirit between people.

The Mullumbimby high school teacher said the area desperately needed short-term to long-term housing fixes as the Easter holidays approached and flood refugees would be forced out of short-term stays.

Her school would remain open but there were others across the region that would be forced to shut, adding even more disruption to the lives of young students who had already endured two years of COVID-19.

"I'm really worried about my community and how we're going to fare over the next little while," Cr Ndiaye said.

Windy weather and high tides are forecast for NSW over the first weekend of April after record rainfall last month, but conditions are expected to ease as the weather system moves south.

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Australia's historic trade deal with India will help promote stability in the Indo-Pacific region, the trade minister says.

The deal, to be signed on Saturday, will see tariffs eliminated on more than 85 per cent of Australian good exported to India, currently worth more than $12 billion a year.

Meanwhile, 96 per cent of Indian goods entering Australia will be duty-free.

"It is a significant win for our exporters," Trade Minister Dan Tehan told the ABC on Saturday morning. "We get access to the largest, fastest growing economy in the world.

"By tying our two economies together, it does help provide an important ballast for the geo-strategic competition we are seeing in the Indo-Pacific.

"The more we can tie ourselves with India... the better for our long-term future and the better for stability in the Indo-Pacific."

Mr Tehan and his Indian counterpart Piyush Goyal will sign off on the deal in a virtual ceremony.

Two-way trade between Australia and India is currently valued at more than $24 billion.

Negotiations on the Australian-India economic cooperation and trade agreement had been ongoing for more than a decade, with the first round of talks between the countries taking place in 2011.

As part of the deal, tariffs on products such as sheep meat and wool will be eliminated straight away, while tariffs for products like avocados, onions, nuts and fruits will be phased out over the next seven years.

Tariffs on wine will also be be reduced, while the resources sector will see tariffs on products like coal and metallic ores eliminated on entry.

"This is great news for lobster fishers in Tasmania, wine producers in South Australia, macadamia farmers in Queensland, critical minerals miners in Western Australia," Prime Minister Scott Morrison said.

"This agreement has been built on our strong security partnership and our joint efforts in the Quad, which has created the opportunity for our economic relationship to advance to a new level."

The trade deal is also set to benefit the education and tourism sectors.

Both countries will recognise each other's professional qualifications, licensing and registration procedures.

Australian services suppliers across more than 30 sectors will be assured of receiving the best treatment by India in relation to any other trade deal India enters into.

Indian residents will also have new access to working holidays in Australia, having 1000 places set aside, with the federal government having two years to implement the measure.

© AAP 2022