Andrew Christodoulou to fight ATO’s claim he owes $437,000 in unpaid super contributions

·

Andrew Christodoulou is determined to fight back after the Australian Taxation Office (ATO) sent him a Director Penalty Notice claiming he owes $437,000 in unpaid superannuation guarantee contributions.

Mr Christodoulou told ABC News he received a Director Penalty Notice from the ATO in November 2023, and was expected to pay back the funds within 21 days.

The tax authority alleges the company that Mr Christodoulou ran for 22 years, which went into voluntary administration in 2016 and closed three years later, owes superannuation to workers it employed at the time.

Some of the alleged debts date back to April 2013 while Mr Christodoulou was a director of the security firm, Kudos Australasia.

Company directors must ensure their company’s tax and super obligations are reported and paid on time. If the company misses payment deadlines, the ATO can recover these amounts from the director personally, even if they are no longer in the role.

“How the hell could I owe $437,000 — it is more than my mortgage,” he told ABC News.

australian taxation office andrew christodoulou
The tax authority alleges the company that Mr Christodoulou ran for 22 years owes superannuation to workers it employed at the time.

Mr Christodoulou said he believes workers should be paid their superannuation, but argued unpaid super debt should have been handled at the time.

“These debts that they are chasing were listed from 2013 — we’re talking 11 years ago now,” he said.

“If they [the ATO] had come to us in 2014 or 2015… we could have sorted it out. Back then it was absolutely doable. But to come forward all these years later, with a figure that has no justification, no clarification around it, and give you 21 days to figure it out?”

Mr Christodoulou is working to resolve the dispute with the ATO but he said legal fees are piling up and he fears the tax authority could bankrupt him.

Issues with Director Penalty Notices have come into the spotlight in recent months, with the Federal Government instructing the ATO to pursue over $34 billion in debt owed by small businesses and self-employed Australians, much of which was deferred during COVID.

Source: ABC News.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

From crisis to compassion: Timos Roussos and his family’s mercy mission in war-torn Cyprus

When Turkish troops landed on Cyprus on 20 July 1974, six-year-old Timos Roussos was sitting on the floor of his family’s home in Lemesos.

A granddaughter returns: Georgia Georgiou retraces her yiayia’s occupied village in Cyprus

When Georgia Georgiou handed over her Cypriot ID at the border checkpoint to cross into occupied northern Cyprus, she felt an ache.

‘You never get over it’: A childhood shattered by the Turkish invasion of Cyprus

On a warm July morning in 1974, 10-year-old Anastasia Di Loreto (née Karatzia) was jolted awake by the sound of bombs falling on Kyrenia.

Cyprus: The paradox of tolerance and impunity for Turkey

The lack of a unified, systematic and practical strategy on the part of Greece has led the Cyprus crisis into national disarray.

Lost homes and lingering hope: Greek-Cypriots reflect on Turkish invasion and its aftermath

From hidden stories to haunting memories, two Greek-Cypriot men share what it means to carry the burden of Cyprus’ past.

You May Also Like

Rain clears for moving Evzones Guard of Honour ceremony at Martin Place Cenotaph

A solemn Guard of Honour Ceremony led by the Evzones took place at the Martin Place Cenotaph in Sydney on Friday, 2 May.

Arrest made during raid for illegal occupation of beach space on Tinos

During a raid on Tinos, a business woman was placed under arrest for occupying public space on beaches without a permit.

‘Wish him the best of luck’: Giannis Antetokounmpo applauds Nick Kyrgios ahead of Australian Open

Giannis Antetokounmpo was asked about his experience with tennis and his relationship with Nick Kyrgios ahead of the Australian Open.