New South Wales residents are being encouraged to check if they are owed a share of the £300m held in Revenue NSW's unclaimed money pool. The funds include uncashed cheques, refunds, overpayments, dividends, and other amounts the government has been unable to return due to outdated contact details or lost paperwork.
The highest concentration of unclaimed money is in Sydney's city and eastern suburbs, with over £91m waiting to be claimed. Western Sydney follows with approximately £77m, while residents of the Central Coast and Hunter region have £22m unclaimed. Additionally, nearly £395m is available for people with interstate addresses who have conducted business in NSW.
Government Procurement Minister Courtney Houssos said, 'We want to make sure as much of that as possible finds its way back to families.' She noted that last financial year, Revenue NSW returned over £21m to rightful owners. Proposed legislative changes aim to streamline the process, including reducing the time businesses can hold money from six years to two.
Residents can search their name on the Revenue NSW unclaimed money portal and lodge a claim. Claims require two proof of identity documents, such as an Australian driver's licence or Medicare card, and one official document showing a connection to the money, like a bank statement or utility bill. Verification may take up to 28 days.
