This online engagement was hosted on YourSAy from 16 December 2020 to 22 January 2021. Find out more about the consultation process. Below is a record of the engagement.
Tell us what you think of the proposed changes to the management of unclaimed money in South Australia.
What’s being decided?
We are proposing changes to the Unclaimed Moneys Act 1891 to improve the administration of unclaimed money in South Australia.
You can have your say on the proposed changes, which aim to cut red tape and make the process of claiming and lodging unclaimed money simpler for both business and individuals.
The proposed changes include but are not limited to:
- increasing the dollar threshold of unclaimed money that can be lodged with the Department of Treasury and Finance by business,
- decreasing the amount of time that business must hold money which is unclaimed, prior to submitting the money to the Department of Treasury and Finance; and
- abolishing the requirement for business to advertise unclaimed money in the SA Government Gazette.
The changes are designed to make it easier for business to administer unclaimed money and cut red tape.
How can your input influence the decision?
Your input will help to identify issues that need to be addressed prior to introducing the Unclaimed Moneys Bill 2020 to Parliament for approval.
What are the next steps?
The Unclaimed Moneys Bill 2020 will be submitted to Parliament for approval by early 2021.
For general inquiries, please email APD@sa.gov.au or call 8207 1865 during business hours (9am to 5pm, weekdays).