Retirement Income

Running low on your rainy day fund?

Running low on your rainy day fund?

More than $100 million is sitting with Victoria’s revenue office and is ready to be claimed by thousands of people.

The State Revenue Office (SRO) is currently holding $111 million in unclaimed cash and the sum includes money from utility companies, local councils, real estate agents and even lottery tickets.

There are more than 740,000 entitlements waiting to be claimed across Victoria. The forgotten cash belongs to people of all ages across the state and data revealed the local government areas that had the most potential claims.

The City of Melbourne tops the list with 57,000 potential claims totalling $15.2 million, which means there is an average of $266 per person who is yet to take their money.

Monash comes in second place with a total of $7 million in unclaimed funds, followed by Boroondara at $6.7 million and Whitehorse at $4.8 million.

There are 24,700 potential claims in the Greater Geelong area and the average they can claim is $120. There is also unclaimed Tattersalls, Intralot and Tabcorp prizes that have been unclaimed for six months.

The highest unclaimed gaming ticket is $2,136,327 from Tattersalls, which was received in March 2016.

So, how do you search and claim forgotten cash?

Anyone who wants to search and claim forgotten cash can do so for free via the SRO website. 

To search the register, Victorians need to provide their name or company name, the address they believe unclaimed money would have been linked to at the time and the postcode. 

Anyone claiming lottery or TAB winnings must supply the original ticket.

Image: Getty

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