$100 million waiting to be collected by Victorians

Scores of Victorians have no idea the State Government owed them cash, with a staggering $100 million waiting to be claimed by residents.

Each year, millions of dollars find their way to the Victorian Unclaimed Money Register, where it sits until the rightful owners make a claim.

The money you’re owed could be as little as $20 – although one clueless Victorian woman is currently owed almost $1 million.

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According to the State Revenue Office website, the unclaimed money could comprise of share dividends, salaries and wages, rent and bonds, debentures and interest and proceeds from a sale.

The cash is lodged with the agency by businesses, gaming venues and betting agencies, and it might have been forgotten about or lost after the owner changed address.

At the moment, there are more than a million unclaimed entitlements across Victoria waiting for collection worth more than $100 million combined.

While some are worth just $20, the largest is $994,994 which is owed to a Mulgrave woman.

About $400,000 is also awaiting collection from a woman in Brighton East, while another in Ardeer has $259,828 waiting for her.

Treasurer Tim Pallas encouraged all Victorians, businesses and community groups to search the State Revenue Office online database to find out if they were owed a stack of cash.

“You will know within seconds if you’re sitting on an unexpected windfall,” he said in a statement on Monday.

Last financial year, the State Revenue Office reunited $16.6 million with its rightful owners.

To search the database and wind out if you’re owed money click here.

If you believe you are the legal owner of unclaimed money listed in the register, complete an application form and post it to the office with supporting documents to prove the money belongs to you.

And don’t be discouraged if you’re not a Victorian – each Australian state and territory is responsible for administering the unclaimed money lodged by businesses and trusts operating there, so contact your relevant state agency if you believe you’re owed money.

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