May 2021 Newsletter - BICB

May 2021 Newsletter

We are led to believe that the ATO will not resume recovery activity through statutory demands until early 2022. Therefore, we now believe that construction industry insolvencies will remain relatively low until the end of 2021. Forecast insolvencies for 2020/2021 financial year may reach 971. Of these, we think 535 (55.10%), will occur from January to June. For the full 2021 calendar year we forecast 1,307 business failures with 772 (59.07%) of these occurring from July to December. The five-year average for construction industry insolvencies is 1205.

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