Yahoo Finance 8 million Aussies urged to check for their share of $442m in lost money
Some eight million Australians have been urged to check whether they’re eligible for a slice of $422 million in forgotten money.
Revenue NSW has collected more than $442 million in share dividends, trust accounts, refunds, commissions, deceased estates and money from a number of other sources.
The customer service department division has more than a million items from private firms, local councils, government agencies and state trustees, but it’s unclear who owns these items.
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The rightful owners of the unclaimed money are unable to be tracked down because their contact details are out of date.
“This money belongs to the people of NSW and I want to make sure it goes back to its rightful owners,” said NSW Minister for Finance Damien Tudehope.
The call for NSW residents to check for unclaimed money comes at a time when Australians’ hip pockets have been hit hard.
“We know many people are doing it tough, especially during the Covid-19 pandemic, and households are having to keep a close eye on their budget, which is why I encourage people to check their eligibility,” Tudehope said.
“You could have hundreds or thousands of dollars that you didn’t know about.”
The areas with the most unclaimed money
Those living in Sydney’s CBD or in eastern Sydney have the most to gain, with residents in these areas sitting on $56.28 million in unclaimed money.
Some people in western Sydney are also eligible for a share of $34.75 million, while some northern Sydney suburb residents can claim their share of $31.48 million.
Those living in southern Sydney could be up to claim a portion of $9.95 million.
How to check if you have unclaimed money
NSW residents should visit the Revenue NSW website under ‘Find and claim lost money’ and type their name into the tool.
“If you do have a claim, notify Revenue NSW and collect your money,” said Tudehope.
“It only takes a few minutes and you could walk away with some extra money in your pocket.”
The NSW government will hold unclaimed money indefinitely until it is claimed by its owner.
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