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

Greek Deputy Foreign Minister Ioannis Loverdos strengthens bilateral ties in Canberra

Greece’s Deputy Minister of Foreign Affairs for Greeks Abroad, Ioannis Loverdos, has continued his official visit to Australia in Canberra.

Family fun and football as Sydney Olympic FC set for first Australian Championship home game

Sydney Olympic FC are set to host their first home game of the Australian Championship season this Sunday, October 19.

Marie Karekla named among Australia’s top women in HVAC&R

AIRAH’s Head of Conferences, Events and Business Development Marie Karekla has been recognised among the Top 20 Women in HVAC&R.

Ballarat ceremony honours George Devine Treloar’s enduring legacy

A commemorative ceremony marking the sixth anniversary of the George Devine Treloar memorial was held in Ballarat on Sunday.

Euthanasia in focus at Bioethics Conference chaired by Archbishop Makarios of Australia

The Ecumenical Patriarchate has announced the 3rd International Scientific Conference on Bioethics will be held in Crete.

You May Also Like

Hellenic Club of Canberra granted approval for $146 million redevelopment

The Hellenic Club of Canberra has received approval for a $146 million redevelopment of its site at Woden in the ACT.

NSW Government to partner with local councils to host major cultural festivals

The NSW Government to partner with local councils to host major cultural festivals, it has said in an announcement today.

Mitsotakis encourages politicians to give up half their salaries to fight coronavirus

Greek Prime Minister Kyriakos Mitsotakis has called on all Greek politicians to deposit 50% of their salary over the next two months to boost the anti- coronation account.