Economic benefits that arise from conservation farming practices need to be assessed over several years to account for improvements in soil structure and nutrient levels. A gross margin model was used to assess benefits over the eight-year period 1999-2006 for 12 regions in the central west of NSW. The annual benefits from improved soil structure ranged from $2.46 to $12.82 per hectare (ha). A reduction in tractor power produced annual savings in the range of $0.60 to $4.05 per ha. The cost of soil compaction by livestock grazing on crop areas ranged from $3.41 to $14.90 per ha. The break-even time to pay back costs for the conversion of machinery for no-till seeding was two to three seasons.