Original article by Joseph Carbone
The Australian – Page: 13 & 16 : 2-Jul-25

Data from the Australian Securities & Investments Commission shows that a record 14,105 businesses were declared insolvent nationwide during 2024-25, which is 26.8 per cent higher than the previous financial year. The figures, which cover the fiscal year up to to 15 June, also show that the construction sector was hardest-hit, recording 3,417 insolvencies. CreditorWatch’s chief economist Ivan Colhoun says the upturn in insolvencies is at least partly attributable to the Australian Taxation Office’s tougher stance on recovering debts after a period of leniency during the pandemic.

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