Christmas bonus waiting to be claimed

4/12/03
Christmas could come early for thousands of Western Australians with the State Government announcing there is more than $21million in unclaimed money up for grabs.
Treasurer Eric Ripper said the money, accumulated over the last 13 years, related to unpresented cheques, deceased estates and real estate bonds, deposits and adjustments.
"In the past year alone, almost $2.3million has been received from a variety of sources," Mr Ripper said.
"If people think they have a claim on any of the money, I would encourage them to check the official register published in today's West Australian or visit the special website."
The website address is: http://www.money.dtf.wa.gov.au
Mr Ripper said the published list contained amounts of $200 or more received over the past year, including one for $75,000.
The website listing goes back to 1990, when the Unclaimed Money Act came into being and lists all amounts. It contains details of 81,000 individuals, companies and organisations who are owed money.
Mr Ripper said when companies and organisations, including State Government agencies, could not trace owners, they were required to hold sums of $100 or more for six years. After this time the money had to be lodged with the Department of Treasury and Finance.
"We hold that money in trust for the owners," the Treasurer said.
"These people will never lose their entitlement to it. As long as they can establish their right to it, it will be paid to them."
Mr Ripper said money from bank accounts, life insurance, company shares and the majority of superannuation were not dealt with by the Department of Treasury and Finance.
While this year, for the first time, some superannuation monies had been received by the State Treasury, these were only from WA-based funds where the owner of the money had reached the age of 65 or had died.
In most cases, people seeking money from inactive superannuation accounts should make inquiries with the Australian Taxation Office at http://www.ato.gov.au which had a special Super Seeker search facility.
They should also note that superannuation did not become 'unclaimed money' until the contributor reached 65. Information on bank accounts and life insurance could be obtained from the Australian Securities and Investment Commission website -
http://www.fido.asic.gov.au
Treasurer's office: 9222 8788