I agree with the previous poster who mentioned the expectation that an accelerated student would be in the top 25% of the receiving class, but if he's keeping up and doing well within the average range, perhaps he's in a great spot for him at the moment- i.e. he's in an environment where he can learn, rather than sitting at the very top and coasting, or struggling because it's too hard.

We're also in OZ and have a DD the same age- she's 7 years old and was tested at the start of the year on WISC with a FSIQ of 146/GAI of 157. Recommendation for her was to do a double grade skip- we said no to the skip, so she's in grade 2, but yes to subject acceleration. She goes to grade 4 for maths and English.

We're now 1 term in, and according to the receiving teacher she's at the top of the cohort... which I guess raises the question "is she being extended enough", but we certainly wouldn't put her into grade 4 full-time, nor subject skip her any further at this stage. She's loving school and thriving with loads of enriching experiences along the way (weekend G&T courses, music lessons etc)