Original article by Giuseppe Tauriello
The Australian – Page: 19 : 23-Jul-25

Official data shows that 14,716 businesses were declared insolvent in 2024-25, which is 33 per cent higher than the previous financial year. However, CreditorWatch’s latest Business Risk Index report has concluded that the monthly rate of insolvencies may have peaked; it notes that just 1,305 businesses collapsed in June, which is 10 per cent lower than the high reached in November 2024. CreditorWatch also notes that business-to-business payment defaults fell by 6.5 per cent in June. CEO Patrick Coghlan remains cautious, noting that the global economic environment is still "highly uncertain"; he adds that the Australian Taxation Office has become more aggressive about recovering tax debts.

CORPORATES
CREDITOR WATCH PTY LTD, AUSTRALIAN TAXATION OFFICE