$461m sits idle – is any of it yours?
Almost $500 million in unclaimed money is up for grabs, and NSW residents are being urged to check if they are entitled to a share.
Revenue NSW has revealed the state is entitled to $461 million sitting with the department, and it is ready to be returned to its rightful owners.
Greater Sydney makes up a large percentage of the pool with more than $130 million in unclaimed money, with $70.5 million of that from within inner-city suburbs.
More than $34 million sits unclaimed from the northern Sydney area, while $16 million is from western Sydney and almost $14 million from southern and southwest Sydney.
More than $37 million is unclaimed from regional areas in NSW.
The most common examples where a person is entitled to unclaimed money include refunds and overpayments from a purchase, sale of property, goods or services. deposits and premiums, principal and interest, share dividends, cheques that have not been cashed or deposited and NSW public sector superannuation.
The state government holds unclaimed money indefinitely until it is returned.
With Christmas approaching, NSW Finance Minister Damien Tudehope encouraged people to check with Revenue NSW online.
"Christmas is a time of year where all families could do with a little extra," Mr Tudehope said. "COVID-19 has also seen many families tighten their budgets. A quick search could help identify money that is sitting, waiting to be claimed through Revenue NSW that could be used these summer holidays.
"This money belongs to the people of NSW, and I want to make sure it goes back to
them. It only takes a few minutes and you could walk away with some extra Christmas money in your pocket to spend on loved ones."
Almost $17 million has been paid to claimants since December last year.
Originally published as $461m sits idle - is any of it yours?