It’s without a doubt that January is a time when folks really feel the pinch in their wallets. We’ve just wrapped up on Christmas and New Year’s celebrations, and we’re just getting back into the routine of work (yuck).
However, to ease the January blues, NSW residents have been urged to check if they’re owed a share of $300 million in unclaimed cash. Cha-ching!
Unclaimed cash refers to the sweet, sweet dosh that’s been held by businesses that you’re legally entitled to. However, the business was unable to return that money due to missing paperwork or contact information.
That money is then handed to Revenue NSW, which attempts to return the unsuccessful funds to the rightful owner (which could be you!).
According to ABC News, NSW’s areas with the most unclaimed cash include Sydney’s city and eastern suburbs, where more than $91 million is waiting to be returned.
Western Sydney has about $76 million waiting to be claimed, with $22 million in the Central Coast and Hunter.
It’s also reported that some of the individual unclaimed returns are in the millions of dollars…
Minister for Finance Courtney Houssos said there were more than 800,000 individual payments that need to be returned to their rightful owners.
“This is money that belongs to residents of New South Wales, and we want to get that money back to you,” Houssos said, per ABC News.
“It ranges from a few dollars to much larger amounts, but we encourage you to jump online and to check it out.
“This might be that little bonanza that you are waiting for.
“All you need to do is jump onto the website and search your name.”
On top of that, Revenue NSW is holding $394 million for individuals with addresses outside of the state, with some of the unsuccessful payments being unclaimed for “many, many years”.
“We’ve also made some legislative changes that mean businesses can only hold onto money for two years instead of six years to make it again easier for people to get access to their money,” she continued.
“We think it’s really important that businesses return that money. If they’re not able to, they return it to the government, and we use our efforts to try and get that money back to residents.
“Even if someone has passed away, and you’re able to inherit that money, there is also a mechanism for you to access it.”
If you wanna check if you’re owed some dosh, you can head to the Revenue NSW website HERE.
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