In a world where every dollar counts, imagine finding out that you might be entitled to a slice of a staggering $580 million pie of unclaimed money. It's not a fantasy but a reality that could apply to you.

With an average of $391 owed to individuals, it's time to take notice because you could be richer than you think!

Last year, Revenue NSW sent out over 11,000 letters to inform residents about unclaimed money.

Over the past decade, they've successfully returned more than $150 million to its rightful owners.

And yet, a record $21.8 million has been returned to New South Wales households and businesses this financial year alone, with an additional $234 million still waiting to be claimed.

Are you eligible for a share of the $580 million unclaimed money? Credit: Shutterstock

The unclaimed money includes payments, refunds, unpresented cheques, dividends, and other unclaimed money forgotten when people moved houses, passed away, changed their names, or lost track of their paperwork.

And not only NSW residents can claim—a further $343 million is available for people outside of NSW or for whom there are no available details.

So, how does one claim this money? It's simpler than you might think.

First, search for your unclaimed money on Revenue NSW’s website. Once you've identified that you're owed money, the department will send it to you within 28 days of verifying your supporting documents.

NSW Finance Minister Courtney Houssos encouraged people to take a moment and search the register.

'With $230 million still available in unclaimed money for people in NSW, I encourage everyone to get online, search the register, and get the money that's owing to you,' she said.

Despite Revenue NSW's efforts, only about a quarter of the $8 million identified last year was claimed.

State Revenue Chief Commissioner Scott Johnston was keen to change this.

'We want to make sure everyone knows about the unclaimed money register, so they can jump online, find out if any money is owed to them and undertake the process to get it back,' he stated.

‘That way, we can ensure more money is being returned to those it belongs to, rather than sitting with us for extended periods after enterprises and organisations pass it on.’

Key Takeaways

• Revenue NSW holds unclaimed funds such as payments, refunds, unpresented cheques, dividends, and other monies, which can be claimed by the rightful owners.
• Over the past decade, more than $150 million has been returned, with $21.8 million reclaimed this financial year, and still $234 million remains to be claimed in NSW, plus an additional $343 million for those outside NSW or without available contact details.
• The process to claim unclaimed money involves searching the online register and providing supporting documents, with Revenue NSW sending out the money within 28 days of verification.
• NSW Finance Minister Courtney Houssos urged people to search the unclaimed money register and claim what is owed to them, while the State Revenue Chief Commissioner Scott Johnston emphasised the importance of raising awareness so more funds can be returned to their rightful owners.

Have you ever discovered unclaimed money in your name? Share your experiences in the comments below!

 

[Reet]

I've had a couple of emails recently supposedly from the government asking that I hit the usual place to confirm my details. Then I am supposed to receive money owed to me. I have wiped these as I believed them to be scams. When did the government write to individuals to advise of outstanding money owed to them? If they really owe money you have to apply for it, so be careful.