More than 1.5 million Victorians are unaware that they are sitting on an unexpected windfall of unclaimed money.
Amounts range from $20 all the way up to the state’s single biggest entitlement of over $600,000, which is waiting to be claimed by two residents in Hawthorn.
Some of the biggest unclaimed regional entitlements include over $100,000 for a man in Trentham, almost $53,000 for a couple in the Kinglake area, and just over $49,000 for a man in Portland. Melbourne was the municipality with the highest amount of entitlements, with almost $20 million in unclaimed money. Geelong topped the regions, with more than $3 million unclaimed.
The State Revenue Office holds records of money that remain unclaimed after 12 months.
Unclaimed money includes share dividends, salaries and wages, rents and bonds, debentures and interest, and proceeds from a sale. Treasurer Tim Pallas said, "I encourage all Victorians, businesses and community groups to visit the State Revenue Office online database and search for any amount recorded under their name.”
As at 31 January 2016, this equalled over 1.5 million entitlements across Victoria. This does not include amounts less than $20 or those lodged with incomplete names and addresses.
Over the past five years, the highest amount claimed in Victoria was just over $1 million in 2011.
Other big amounts paid include nearly $200,000 in 2014 (one of 23,805 claims) and over $350,000 in 2015 (one of 19,743 claims).
To search for your unclaimed money, visit sro.vic.gov.au/unclaimedmoney. “You just need to type your name and if the SRO is holding unclaimed money for you, you’ll know within seconds. If you find an unexpected windfall, just follow the prompts to start the recovery process,” said Mr. Pallas.
"The database is a quick and easy online search tool, so there is no need to involve a third party to track down your money,” he added.
TOP TEN MUNICIPALITIES:
All Victorian municipalities for money amounts:
1. Melbourne entitlements 154,253 in total $19,846,369
2. Boroondara entitlements 65,930 in total $8,397,905
3. Monash entitlements 54,621 in total $6,830,824
4. Stonnington entitlements 39,107 in total $4,560,096
5. Glen Eira entitlements 42,307 in total $4,007,406
6. Bayside entitlements 37,644 in total $3,824,467
7. Whitehorse entitlements 41,006 in total $3,785,010
8. Moreland entitlements 42,089 in total $3,629,597
9. Port Phillip entitlements 35,392 in total $3,579,392
10. Yarra 31,331 entitlements in total $3,545,592
