The federal budget was released on Tuesday night but Dubbo Chamber of Commerce president Matt Wright said more announcements could be on the way.
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“The government is probably being a little bit careful after last year’s flop but I think there’ll be further changes to come,” Mr Wright said.
“Don’t be surprised if there are changes to superannuation and capital gains tax.
“There may be some surprises there for small business and individuals as well.”
Mr Wright described the budget as reasonably bland and said there was nothing major that had been announced.
Dubbo mayor Mathew Dickerson said the biggest news for the city was the upgrade to the saleyard.
“Dubbo is number one in the nation for combined sheep and cattle and we need to continue to spend to make sure we continue to be the number one cattle and sheep yard in the nation,” he said.
Cr Dickerson said Dubbo Regional Livestock Market put $75.6 million into the Dubbo economy each year and provided 220 full time equivalent jobs.
It will be a $6.58 million project with the funding split between the federal government and Dubbo City Council.
Mr Wright said there was good news for small businesses with a tax cut from 30 per cent to 28.5 per cent and the ability to claim expenses up to $20,000 effective immediately.
“It’s not a huge tax for small businesses but anything is welcome. A 1.5 per cent tax cut is a bit of a token gesture but anything is welcome,” he said.
He said being able to claim expenses would have a flow on affect to the retail sector for stores such as Officeworks and Harvey Norman.
Cr Dickerson said tax cuts were fantastic as small businesses made up the backbone of Dubbo’s economy.
Mr Wright threw his support behind the $333 million dedicated to a drought support package and the $3.5 billion has been earmarked for a Jobs for Families childcare initiative.
“The funding set aside for drought affected locations- that’s a positive. Dubbo should benefit from that. “Childcare is a good focus- there are some good benefits there. It’s encouraging people to get out there and work in the community and that’s a good thing.”
Cr Dickerson said it was a good, consistent budget that had made people confident in the government which would lead to more money spent in the regional economy.