“There are more than 300,000 small businesses (more than any other industry) in the building and construction industry who are winners from the Budget,” Wilhelm Harnisch CEO of Master Builders Australia said.

“Master Builders called for a Budget to boost confidence and viability for business in the here and now and the Government has delivered,” he said.

“The $5.5 billion small business package will massively boost confidence, activity and jobs in the industry,” Wilhelm Harnisch said.

“In an industry as capital intensive as building and construction, the immediate write off of assets up to $20,000 will provide an immediate stimulus,” he said.

“Measures to cut tax for both small companies and sole traders will also underpin a reboot of confidence for builders, home-buyers and consumers,” Wilhelm Harnisch said.

“Master Builders called for short term tax measures to boost building activity and maintain the momentum of the housing upturn and these measures have exceeded builders’ expectations,” Wilhelm Harnisch said.