What to do with unclaimed money

Unclaimed money is money your business legally owes to someone, but you haven’t been able to give it to them. This can include:

• refunds or credits
• overpayments
• uncashed cheques
• wages
• superannuation
• share dividends.

You’re not allowed to keep unclaimed money. If you’ve tried to give the money to its owner but can’t, follow the unclaimed money rules of the state or territory where you owe the payment.

State and territory government agencies may expect you to:

• keep clear records of the money you owe
• try to contact the owner using the details you have
• hold the money for a set length of time
• lodge the unclaimed money with the right agency once that time ends
• keep the records you used to prepare your lodgement.

State and territory government agencies

Check the state or territory where you owe the payment to find out what types of unclaimed money they accept and how to lodge it.

• Victoria: State Revenue Office
• New South Wales: Revenue NSW
• Queensland: Queensland Public Trustee
• South Australia: Department of Treasury and Finance
• Western Australia: Department of Treasury and Finance
• Tasmania: Department of Treasury and Finance
• Northern Territory: Department of Treasury and Finance
• Australian Capital Territory: Public Trustee and Guardian

Australian Securities and Investments Commission

If your business is a company, you may also need to lodge some unclaimed amounts with the Australian Securities and Investments Commission (ASIC). These are specific company-based entitlements that you can’t return to the owner, such as:

• money owed to shareholders who you haven’t been able to contact for 6 years or more
• money from compulsory share buyouts
• money belonging to deregistered companies
• amounts left over when a company winds up.

Read ASIC’s guidance on unclaimed company money to understand when these rules apply.