Despite the impact, corporate bankruptcies in Australia have decreased
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Gelonghui July 22｜Commercial data monitoring company Creditorwatch stated that despite soaring fuel costs, rising interest rates, and high inflation, the number of bankruptcies among Australian enterprises fell by 3.9% in the year ending June 30. The company said this decline was supported by the 2024 income tax reduction and the expected interest rate cuts in 2025, providing a boost for high-risk sectors such as construction and hospitality. The company added that nonetheless, trade defaults and tax debts are once again increasing, indicating growing pressure. The company noted that even a single trade default can significantly increase bankruptcy risk over the next 12 months to more than ten times the national average.
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