Under the 1962 Unclaimed Money Act, any institution must turn unpaid money over to the Government. Any unclaimed trust, money, property (as defined by section 13a of the act) not claimed by the owner or family after 6 years must also be paid to the Government (time varies depending on the institution).

Every State has different laws and policies regarding the handling of Unclaimed Money. Only 1% of rightful owners claim their money. 99% are simply not aware of their entitlement.

Steve Edmonds - manager of the Government Revenue in NSW says ... "All claims are treated with a great deal of care. We have to be certain the people claiming are entitled to the money". (extract Sydney Morning Herald-Personal Investment 9th July)

Call: Australia 61 3 9645 4445