Telstra's $11 billion deal to lease its infrastructure to help build the national broadband network has been given full approval by the competition regulator and the taxman.

The ACCC on Friday announced it had approved the NBN's migration plan, which was one of the final hurdles preventing Telstra's full transition to the government's plan to use cheaper methods for building the new broadband network - albeit at slower internet speeds.

The approval means NBN will now be able to ramp up its work to connect homes and businesses with high-speed broadband. Credit:Glenn Hunt

The approval means NBN, which is the company formerly known as NBN Co, will now be able to ramp up its work to connect homes and businesses with high-speed broadband.

These will be done as part of construction contracts worth $1.2 billion to $2 billion signed earlier this month with five contractor partners.