Does Treasurer Snelling owe you money?

Posted on January 29, 2012

South Australians have gifted Labor $20 million in unclaimed money over the last decade.

Under the Unclaimed Moneys Act following a notice in the SA Government Gazette “all unclaimed moneys exceeding ten dollars in an account which has not been operated upon for six years” will be gifted to the Treasurer and spent by the State Labor Government. 

Types of unclaimed money collected by the Department of Treasury and Finance include dividends (not company shares), deposits, refunds, unpresented/void/stale cheques, deceased estates, superannuation benefits, wages and salaries.

The SA Government Gazette lists the unclaimed money in January each year, giving the rightful owners just two years to access their money.

Leader of the Opposition Isobel Redmond said that only $4 million out of $24 million has been claimed over the last decade.

“South Australians have a right to this money, but it will go straight into the Weatherill Labor Government’s pockets if claimants don’t get to it first,” Ms Redmond said.

“Claimants have two years to access the money listed in this year’s Gazette or it will go to the Labor Government. They have only one year to claim the money listed in last year’s Gazette. 

“For all other claimants in previous years, it is too late – your money now belongs to Treasury.

“You can check if Treasurer Snelling owes you money at http://www.treasury.sa.gov.au/dtf/unclaimed_money.jsp or by calling (08) 7424 5261.”