29 Jan 2014

$A138m in forgotten funds in NSW

8:59 am on 29 January 2014

The Office of State Revenue in New South Wales is holding $A138 million in unclaimed money from deceased estates, dividends, bonds and refunds. The state government wants the rightful owners to come forward.

The unclaimed funds come from deceased estates, dividends, bonds, overpayments and refunds.

Government agencies, superannuation funds, councils and state trustees send the funds to the OSR when it becomes impossible to find the owner.

AAP reports the value of the 289,000 items range from a $A20 share dividend to more than $A477,836 in property sale proceeds.

State finance and services minister Andrew Constance said one woman was reunited recently with a forgotten deposit paid to a council worth almost $A26,000.

Another woman searched the OSR's website and found she was entitled to more than $A108,000 from 11 forgotten share dividends.

"The money is held until it is claimed by its rightful owners, so now is good time to check to see if some of it is yours," Mr Constance said in a statement.

In the past 12 months, the OSR has paid 7139 claims worth $A11.92 million.