Create Australia Lost Funds Informer
Did you know that under Australian law all amounts exceeding $10 in an account, not accessed for six years, can be taken by Treasury as lost funds? Very true!
The money can come from void or unpresented cheques, deposits, refunds, deceased estates, superannuation benefits, wages, salaries and many more.
Rightful owners have two years to claim.and the government eyes these funds greedly hoping to take them in Public revenue. Public revenue is that fund which many of us call the black hole or the government wastage account for short:)
This financial year, the Government has access to approximately $15.88 million for re-absorption into government revenue, this money but it will go straight into Government’s pockets if claimants don’t get to it first.
What do you think about the government only giving us 2 years to claim on our own money, for it then to be rolled over into government revenue? They say they go to reasonable efforts, what are those reasonable efforts?
Do they have dedicated staff with investigative skills looking into these missing amounts in order to locate the rightful owners? we would say Not likely
Do they look outside there own State or outside of Australia in order to find the rightful owners? we would say Not likely.
So if you moved States, address, job, changed phone numbers – it would be a case of too bad charlie for you. Do we think it’s fair, just or equitable – We say Most Definitely NOT! Find out how a Refund agent can assist you in finding your lost monies, and how we can support you in that process.
