The Federal Budget has Maranoa LNP candidate David Littleproud feeling positive about the future opportunities for businesses in the region.

"Tuesday night's Federal Budget signals significant opportunities for the Maranoa electorate. The Budget will provide small and medium businesses with tax relief. These tax breaks will assist businesses in the Maranoa to grow jobs and opportunities that ensure the sustainability of the region."

The 2016 Federal Budget cut the small business company tax rate to 27.5 per cent and makes it available to all small companies with an annual turnover of less than $10 million from 1 July 2016.

"It will help nearly 25,500 small businesses across Maranoa," Mr Littleproud said.

"We are committed to easing the tax burden and making life easier for our hard working small businesses to ensure they can grow, prosper and create new jobs.

"This acknowledges that small businesses are the engine room of our economy.

"The Government is easing the burden on small businesses by increasing access to a range of small business tax concessions, and expanding these concessions to businesses with an annual turnover of less than $10 million.

New changes include:

• simplified depreciation rules, including the ability to claim an immediate deduction for assets purchased costing less than $20,000 until 30 June 2017;
• simplified trading stock rules, giving businesses the option to avoid an end of year stocktake if the value of their stock has changed by less than $5,000;
• the option to account for GST on a cash basis and pay GST instalments as calculated by the Australian Taxation Office (ATO);
• a simplified method of paying PAYG instalments calculated by the ATO;
• making GST administration easier by simplifying the Business Activity Statement (BAS); and
• other tax concessions available to small business, including fringe benefits tax (FBT) exemptions (FBT changes from1 April 2017) and immediate deductibility of professional expenses.

"The Budget also delivers growth and jobs for Maranoa with significant investments such as the Melbourne to Brisbane Rail Line Programme," Mr Littleproud said.

"We are boosting connectivity, building critical infrastructure, supporting innovation and fostering local leadership across Maranoa," Mr Littleproud said.

"Building on our achievements over the past three years, the 2016-17 Budget will support stronger, more liveable regional communities with better infrastructure including:

• $594 million for the Melbourne to Brisbane Inland Rail. We have acquired land for the rail corridor and continue pre-construction activities.
• $2.4 billion for the Roads to Recovery.
• $5.2 billion for the National Broadband connecting regional households and businesses.
• $160 million for the Mobile Black Spots Programme to connect rural and regional areas.

Mr Littleproud said the measures announced in last night's Budget reinforces this Government's commitment to infrastructure and creating jobs in regional Australia.