Wednesday, July 6, 2022

$467 mn unclaimed money lying with Revenue NSW, avail of it if you haven’t

More than $467 million of unclaimed money is sitting with Revenue NSW ready to make its way into the hands of NSW citizens.

NSW Minister for Finance and Small Business Damien Tudehope acknowledged many families across the state were struggling financially due to the ongoing effects of the COVID-19 stay-at-home orders.

“We know many people are doing it tough, especially during the COVID-19 pandemic, with most households having to keep a close eye on their budget. This is why I am encouraging people to check their eligibility on the Revenue NSW website to see if you are owed any money, you could have hundreds or thousands of dollars that you didn’t know about,” Mr Tudehope said.

The forgotten money held by Revenue NSW includes share dividends, trust accounts, refunds, commissions, deceased estates and money from a range of other sources.

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“The largest single amount held on the unclaimed money register is more than $1 million from a deceased estate in Cabramatta, while there are 10 amounts of more than $500,000 each, waiting to be collected by the rightful owners.”

“There are also more than 255,000 unpresented cheques worth $108 million waiting to make their way to the proper accounts.”

“Anyone can search for unclaimed money on the Revenue NSW website. It is a free service offered by the NSW Government to get money back into the hands of its owners.”

The unclaimed money register holds money that has not made it to the correct owner for any number of reasons, including a change of address or name, misplaced paperwork or has simply been forgotten.

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Revenue NSW periodically undertakes data matching activities and attempts to contact potential owners of new items received from enterprises.

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The unclaimed money register can be found here https://www.revenue.nsw.gov.au/unclaimed-money/search

Top Sydney suburbs for unclaimed money as at 1 September 2021

SUBURB NUMBER OF ITEMS VALUE ($)
SYDNEY 23,288 14,616,327
NORTH SYDNEY 4,429 1,972,686
RANDWICK 3,563 1,784,616
CABRAMATTA 1,754 1,721,682
CHATSWOOD 3,545 1,720,521
PARRAMATTA 3,214 1,603,397
MOSMAN 4,786 1,535,058
BEXLEY 1,261 1,423,406
EARLWOOD 1,841 1,208,254
SURRY HILLS 3,311 1,152,670
MARRICKVILLE 2,745 1,054,778

Top regional suburbs for unclaimed money as at 1 September 2021

SUBURB NUMBER OF ITEMS VALUE ($)
WOLLONGONG 2,386 742,777
ORANGE 2,027 708,025
NEWCASTLE 1,560 670,558
GOULBURN 1,081 601,134
TAMWORTH 1,640 594,545
PORT MACQUARIE 2,047 534,107
WARRAWONG 315 510,167
WAGGA WAGGA 1,769 441,238
DUBBO 2,138 434,547
BATHURST 1,205 429,663

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