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WA Residents Could Be Owed Millions: $190 Million in Unclaimed Money

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  Published in Politics and Government on Monday, January 5th 2026 at 11:36 GMT by The West Australian

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Millions Sitting Unclaimed: Could the WA Government Owe You Part of a $190 Million Pot?

For West Australians, the prospect of finding unexpected money is always appealing. And right now, that possibility is very real for potentially hundreds of thousands of people. The Western Australian government holds an astounding $190 million in unclaimed money and property – funds belonging to individuals who have lost contact with their assets or entitlements. This article explains what this unclaimed money represents, why it exists, and crucially, how you can check if you're one of the rightful owners.

What is Unclaimed Money? A Broad Range of Sources

The $190 million isn’t a single lump sum; it comprises a diverse range of funds originating from various sources. These include:

• Dividends and Shares: Many people have inherited shares or received dividends from companies, but the company has been unable to locate the rightful owner for years.
• Bank Accounts: Dormant bank accounts – those inactive for a significant period (usually seven years) – are often turned over to the government. This can include savings accounts, term deposits, and even cheque accounts.
• Insurance Policies: Life insurance policies or other types of insurance where beneficiaries have not been identified or contacted.
• Superannuation Funds: Unclaimed superannuation entitlements are a significant portion of the total – highlighting the importance of keeping your superannuation details up-to-date (more on this below).
• Escheatments: This refers to property and money that becomes the state’s when an individual dies without a will or known heirs.
• Unpaid Wages & Compensation: Occasionally, these funds arise from situations where individuals were owed wages or compensation but haven't been located.

The sheer volume of unclaimed money reflects a combination of factors: people moving interstate or overseas, changing contact details without informing relevant institutions, and the simple passage of time eroding records. As reported in The West Australian, State Treasurer Troy Buswell emphasized that many people are likely unaware they’re owed money, highlighting the need for proactive investigation.

Why Does This Money Exist? The Legal Framework

Under Western Australian law, when an entity (like a bank or company) can't locate the rightful owner of funds after diligent attempts, those assets are eventually transferred to the State Treasury as 'unclaimed monies'. This process is designed to protect these assets and ensure they’re not lost forever. The government then holds this money in trust, with the intention of returning it to its owners when they come forward.

How to Find Out if You're Owed Money: A Step-by-Step Guide

The WA government has established a process for individuals to claim their unclaimed monies. Here’s how you can check:

1. Visit the Treasury Website: The primary resource is the Department of Treasury’s Unclaimed Money website: [ https://www.wa.gov.au/organisation/department-treasury/unclaimed-money ]. This site provides information about the process and a search function.
2. Use the Online Search Tool: The website features an online search tool where you can enter your name (or names of deceased relatives) to see if any unclaimed money is associated with them. The West Australian notes that searching by multiple variations of names (e.g., including middle names, nicknames, and previous surnames) can increase the chances of finding a match.
3. Superannuation Search - A Crucial Step: A significant portion of this $190 million relates to unclaimed superannuation. The government's search tool does not include superannuation details. You must separately check with the Australian Tax Office (ATO) through their online MyGov account and use the ATO’s SuperSeeker service: [ https://www.ato.gov.au/individuals/superannuations/checking-your-super/find-lost-super/ ]. SuperSeeker consolidates information from various superannuation funds, providing a comprehensive view of potential unclaimed entitlements.
4. Claiming Process: If you find a match in the Treasury’s search or through SuperSeeker, you'll need to follow their specific claim process. This typically involves submitting documentation (like birth certificates, death certificates, wills, and identification) to verify your identity and entitlement.

Important Considerations & Potential Challenges

• Time Limits: While there isn't a strict expiry date on claiming unclaimed money in Western Australia, the government encourages people to come forward as soon as possible. The longer it remains unclaimed, the more complex the process can become, especially if tracing family history is required.
• Deceased Estates: Claims can be made on behalf of deceased individuals by their legal representatives (e.g., executors of a will). This often requires providing probate documents and proof of executorship.
• Complexity with Shares & Dividends: Tracing ownership for shares and dividends can be particularly challenging, requiring thorough investigation into historical records.
• Beware of Scams: The existence of unclaimed money has unfortunately attracted scammers. The Treasury Department warns against anyone contacting you directly claiming to represent them and requesting fees to recover your funds. Legitimate claims are made through the official channels outlined above.

A Call for Proactive Checking

The sheer scale of the $190 million pot of unclaimed money underscores the importance of proactive financial housekeeping. Regularly updating contact details with banks, superannuation funds, and other institutions is crucial to avoid becoming part of this statistic. For West Australians, taking a few minutes to search the Treasury website and utilize the ATO’s SuperSeeker tool could potentially unlock a significant financial windfall – a valuable effort well worth undertaking.

I hope this article provides a comprehensive summary of the information presented in the provided URL!