Australian Tax Office

Business failures have hit a post-pandemic peak, matching the rate measured in October 2020, with food and beverage the worst affected.

Governments can choose not to act on bracket creep because it brings them extra revenue without having to announce unpopular tax increases.

Meanwhile, more than 1,200 entities, or roughly 31 percent of the corporate tax population, paid no tax.

Nazir Haddara was released on a $150,000 surety after raids which seized more than 600,000 illegal tobacco and vaping products across Victoria.

Building and construction, cafes and restaurants, and hairdressing and beauty services topped the list of industries the ATO was tipped off about in 2023/24.

The outlook for business continues to worsen, with CreditorWatch forecasting 1 in 11 in hospitality will fail in the next year, with bad news for other sectors.

Calls to the Small Business Helpline surged 82 percent compared with last year, as the ATO takes an aggressive approach to debt collection.

Some staff have been sacked and others face criminal investigation after a GST refund scheme was exposed as fraudulent.