New South Wales residents are being urged to check whether they are owed a share of nearly $300 million sitting unclaimed with Revenue NSW, as the state government steps up efforts to reunite people with money that has slipped through administrative cracks.
The unclaimed money pool includes funds from overpayments, uncashed cheques, dividends, refunds and other amounts owed to individuals or businesses that the government has been unable to contact. In many cases, the money has gone unclaimed because people failed to update their contact details, changed their names, lost key paperwork or were unaware that a payment was due. Estates of deceased people are also a significant source of unclaimed funds, particularly when family members are unaware of assets held in the name of a relative.
Data released by Revenue NSW shows that Sydney’s city and eastern suburbs account for the largest share, with more than $91 million waiting to be claimed. Western Sydney follows with about $77 million, while in regional NSW, residents of the Central Coast and Hunter regions are owed approximately $22 million.
The pool is not limited to current NSW residents. People living outside the state who previously lived, worked or conducted business in NSW may also be entitled to claim money. Revenue NSW says there is almost $395 million in additional unclaimed funds linked to individuals and businesses registered at interstate addresses, underscoring the scale of the issue nationwide.
Government procurement minister Courtney Houssos said the priority was to return as much of the money as possible to the people it belongs to.
“We want to make sure as much of that as possible finds its way back to families,” Houssos said. “Last financial year, Revenue NSW returned more than $21 million to its rightful owners. With these new reforms, we’re making it faster and easier for people to get what they’re owed.”
Houssos also flagged legislative changes designed to streamline the unclaimed money system. Under the proposed reforms, the length of time businesses can hold onto unclaimed funds before transferring them to Revenue NSW would be reduced from six years to two years.
The change is intended to ensure that money reaches the central unclaimed pool sooner, making it easier for individuals and families to locate and recover funds.
“It’s about removing unnecessary delays,” Houssos said, adding that earlier transfers would improve transparency and access for claimants.
Residents who suspect they may be owed money can search for their name through the Revenue NSW unclaimed money portal, which is publicly accessible online. If a match is found, individuals can lodge a claim directly through the website.
To verify a claim, applicants must provide two proof-of-identity documents, such as an Australian driver’s licence, proof-of-age card, Australian birth certificate or Medicare card. In addition, Revenue NSW requires one official document that demonstrates a connection to the money being claimed. This may include an electricity or phone bill, a bank statement, or a residential lease agreement linked to the relevant period.
Revenue NSW says claims are typically processed within up to 28 days, during which time officials verify that the claimant is legally entitled to the funds. More complex claims, including those involving deceased estates or businesses, may take longer.
The government hopes that increased public awareness and simplified rules will encourage more people to search the database and recover funds that may have been forgotten for years.
For many households facing cost-of-living pressures, even modest amounts could provide welcome relief — and officials stress that checking the portal is free, quick and could uncover money people never realised they were owed.
