UPDATE: The Australian Safety Transport Bureau (ASTB) has released a statement confirming an investigation will be launched into the incident.
"During the take-off run, the flight crew detected a control issue and rejected the take-off," the statement says.
"The aircraft subsequently veered off the runway.
"No one was injured and the aircraft sustained minor damage.
"As part of the investigation, the ATSB will interview the flight crew, obtain an engineering report and gather additional information."
UPDATE: A MEMBER of the Gympie Aeroclub, who was visiting Lismore Airport today, says the pilot and passenger of a corporate jet that overshot the runway were lucky not to have been hurt.
Charles Mollison saw the plane come down, with its undercarriage withdrawn, while trying to take off from the airport.
Other witnesses described seeing the plane skidding across the paddock towards the road and praised the pilot, who appeared to remain in control of the aircraft during the incident.
UPDATE: It is understood Lismore-bound REX flights are being diverted to Ballina after a corporate jet overshot the runway at Lismore airport.
UPDATE: A CORPORATE jet registered to a pastoral company has gone off the runway after landing at Lismore Airport.
A Fire and Rescue NSW spokesman said the Cessna 550 plane had continued off the end of the runway at Lismore Airport but reports circulating online of a fire were incorrect.
A Northern Star reporter at the scene said the plane overshot the runway by 30-50m and stopped about 15m from a barbed wire fence.
The plane is registered to Yulgilbar Station in the Clarence Valley.
Emergency services are on the scene.
Ambulance NSW said paramedics were called at 1pm and have now arrived on scene, reporting no injuries to passengers.
INITIAL REPORT: POLICE have confirmed that a plane has gone off the runway after landing at Lismore Airport.
It is reported that a plane has overshot the runway.
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