November 29th 2024.
Attention all Australians! Are you struggling to make ends meet? Well, it turns out that you may have some extra cash waiting for you in a pool of $2.3 billion! Yes, you heard that right. According to the Australian Securities and Investments Commission (ASIC), there is a significant amount of unclaimed money in the form of 'lost' bank accounts and life insurance policies that have been untouched for more than seven years.
But here's the catch - this unclaimed money doesn't just sit there forever. After seven years, it goes to ASIC and is then transferred to the Commonwealth of Australia Consolidated Revenue Fund. However, there's still hope for those who have a rightful claim to this money. ASIC can administer it to individuals who can prove their ownership. And the best part? There's no time limit on when you can claim it.
Now, you may be wondering, how do I know if I have a rightful claim to this unclaimed money? Well, many Australians have no idea if they do or not, let alone how to collect it. But fear not, ASIC's Moneysmart website has a handy search tool that allows you to check if you have a claim to any lost money and then provides details on how to make a claim. And that's not all, you can also search state government websites for unclaimed money from deceased estates, lost share dividends, salaries and wages, and more.
If you're in New South Wales, you can search for unclaimed money on the Revenue NSW website. For Queensland residents, the Queensland Public Trustee provides tips and a search tool on their website. Those in Victoria can head to the State Revenue Office's website to search for unclaimed money. And for those living in the Australian Capital Territory, the Public Trustee and Guardian has a smart form on their website to help you find any unclaimed money.
South Australia's Department of Treasury and Finance also maintains a searchable online database of unclaimed funds in the state. Western Australia's Department of Treasury has a simple online tool for finding lost funds. And in the Northern Territory, the Territory Revenue Office, Department of Treasury and Finance, and the Public Trustee all handle unclaimed money claims.
But wait, there's more! Tasmania's Department of Treasury and Finance also keeps track of the state's unclaimed money and provides information on how to claim it on their website.
So, what are you waiting for? Head to the appropriate website for your state or territory and see if you're owed a share in unclaimed money. And don't forget to download the 9News app to stay updated on all the latest news, sports, politics, and weather. It's available on both the Apple App Store and Google Play. Happy searching!
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