GENERAL NEWS
EXTERNAL administrations are at a record high in Australia, amid stubbornly high inflation and interest rates, and nearly a quarter of all tax debt defaults are from...
According to CreditorWatch’s March Business Risk Index, administrations surged 22.1% year-on-year, and while business-to-business payments were slightly down from...
Of the more than 15,000 tax debt default records CreditorWatch currently holds from the Australian Taxation Office – outstanding debts of more than...
Of these construction records, 70.4% are from the construction services sector and are mainly smaller sub-contractor businesses, with the remainder in building construction...
According to the data, within building construction, residential builders are around 1.5 times more likely to default on a tax debt than non-residential construction companies...
“These businesses often have debt secured against personal assets, and debts of $100,000 or more would be a severe imposition on their ability to meet their ongoing financial...
The industries with the highest probability of business failure over the next 12 months are food and beverage services (7.44%), public administration and safety (5.66%), and...
The fresh data picks up from Australian Securities and Investments Commission numbers that showed the construction industry dominated the number of...
Construction businesses have been slammed since the pandemic by supply chain issues, surging materials costs and severe labour shortages. Billions of dollars have...
Construction costs stabilise
Some limited relief may be arriving for the sector. Growth in national construction costs continued to stabilise in the first quarter of 2024...
CoreLogic Economist Kaytlin Ezzy said while growth in national construction costs have continued to ease from the highs seen through the pandemic, price levels remain elevated...
Construction costs are expected to remain within usual margins in the coming year. National dwelling approvals have held well below average in 2023 and...
Ezzy said the construction pipeline remains “bloated”, with Australian Bureau of Statistics building activity data showing around 255,000 dwellings approved but...