Authorities in New South Wales are urging residents to check if they are owed a share of a staggering almost $300 million in unclaimed money currently sitting in government coffers. Revenue NSW is on a mission to reunite more than 800,000 individual sums with their rightful owners.
What Constitutes Unclaimed Money?
Unclaimed money refers to funds that individuals are legally entitled to but have not been able to collect, often because a business or organisation lost contact with them. This can happen when people move house and forget to update their details, lose important paperwork, or when relatives are unaware of funds belonging to a deceased family member.
The state's unclaimed money register contains a vast array of amounts, from small overpayments and uncashed cheques to sizeable dividends and refunds. The sums range from just a few dollars up to millions.
Where is the Money Located?
The distribution of these unclaimed funds reveals significant concentrations in and around Sydney. Nearly a third of the total, a whopping $91 million, is linked to addresses in the Sydney CBD and eastern suburbs. The city's west accounts for $76 million, while the north has close to $53 million waiting to be claimed.
Regional areas are also sitting on substantial amounts. The Central Coast and Hunter region tops the list for the regions with $22 million unclaimed, followed by the Illawarra and Southern Highlands area, which has $10,500 owed to locals.
Government Push for Reunification
NSW Finance Minister Courtney Houssos emphasised the government's drive to return this money. 'Almost $300 million is sitting unclaimed, and we want to make sure as much of that as possible finds its way back to families,' she stated. 'With these new reforms, we're making it faster and easier for people to get what they're owed.'
While Revenue NSW proactively tries to contact potential owners, incomplete data often leads to people being missed. 'That's why we're encouraging everyone to take a few minutes to check online – you might be surprised with what you find,' Houssos added. The agency successfully returned over $21 million to owners in the 2024–25 financial year.
It is worth noting that Revenue NSW also holds an additional $394 million in funds for Australians living in other states. Furthermore, NSW is not alone; the Victorian government, for instance, has its own pool of $200 million in unclaimed money.
Claims are typically verified and processed within a month. To check if you are entitled to any unclaimed funds, you should visit the official Revenue NSW register online.
