Although Wallace continued to work after World War II, with a successful career in radio and on stage as well as occasional film roles, his film career never returned to its 1930s peak. This was undoubtedly influenced by factors outside his control, such as F. W. Thring's death in 1936 and Cinesound Productions' decision to cease feature film production in 1940. Indeed, the films that Wallace stars in defy the fact that the Australian film industry was already struggling to survive. These films continue to be a high point of Australian screen comedy.