Unclaimed riches: How Aussies can make fast cash now
Aussies could unknowingly be sitting on thousands of dollars in unclaimed cash or rebates. See how to find cash that belongs to you.
National
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THOUSANDS of dollars in rebates, incentives and unclaimed cash and super are at many struggling households’ fingertips — but they simply don’t know it.
As the cost of living grip tightens, we look at where you can unexpectedly find cash that belongs to you.
And according to money-saving website One Big Switch’s Joel Gibson the government is in many cases, the first place to start.
“By my calculations, there’s around $18.6 billion of our money sitting in … three ‘pots’ just waiting for us to claim it back,” he said.
SUPER
There is $16 billion in lost and unclaimed super, up $2.1 billion since last financial year, the Australian Taxation Office (ATO) announced this week.
Finding lost or unclaimed super is easy and can be done in a matter of minutes, said Deputy Commissioner Emma Rosenzweig.
“People often lose contact with their super funds when they change jobs, move house, or simply forget to update their details,” she said.
“This doesn’t mean your super is lost forever. By accessing ATO online services through myGov, you can easily find your lost or unclaimed super.”
Super becomes ‘lost super’ when it is still held by the fund but the member is uncontactable or the account is inactive.
REBATES/GRANTS
There are range of rebates for utilities, health, education, sport, transport and housing.
Conditions apply depending on what state or territory you live in.
Check out some of the rebates offered from state and territory governments here: VIC, QLD, NSW, SA, TAS, NT.
CommBank’s Benefits Finder also helps customers search for government rebates and grants they might be eligible for and since 2019 has yielded them a collective $1 billion.
Housing
In Victoria, low income earners may be eligible for a discount of up to 50 per cent on council rates this financial year. Eligible homebuyers may also be able to get a full or partial exemption on stamp duty fees.
Residents in NSW can seek support with housing costs, including paying for rent or concessions on rates.
South Australians may be eligible to get a Cost of Living Concession to help with council rates or other living expenses. This financial year, the one-off payments will double, up to $449 depending on your living arrangement.
Queenslanders can access a range of support for living expenses, such as two weeks of paid rent for eligible people moving into private rentals.
Utilities
Government support — in some cases worth more than $750 is available to help those struggling cover the cost of energy bills and water.
For example, eligible Queenslanders can get a $175 Cost of Living Rebate on their electricity bill in 2022.
Health
The government’s Child Dental Benefits Scheme offers more than $1000 of free dental care for their kids every two years.
But two million families are missing out because they don’t know they qualify.
Children aged between 0 and 17 years old are eligible for the scheme if their family receives Family Tax Benefit A.
It covers up to $1052 of basic dental care over two calendar years for services including check-ups, X-rays, cleaning, fissure sealing, fillings, root canals and extractions.
Education
School and sport programs have concessions on offer, although it varies from state to state.
In SA, parents of school-aged children can access $100 of the Materials and Services charge for 2022 and 2023. Some schoolchildren can also receive a $100 voucher to go towards sport, dance or swimming lessons.
In NSW, there are vouchers up to $150 to help cover school needs, such as books, stationery and uniforms.
Transport
Drivers may be able to apply for discounts on the cost of vehicle registration, licence fees and stamp duty.
Those who live remotely or are medically unable to drive, can be supported through discounted taxi-type programs.
CASHBACK SCHEMES
Shopping
By shopping through websites such as Shop Back or Cash Rewards, you can get a percentage of the purchase price back in credits, which you can build on to get better deals in the future.
You can also download tools for your web browser, known as plugins or extensions, that will alert you to deals and discount codes while you’re online shopping when installed on your Chrome or Firefox. Some well known brands include Revolut and Honey.
Some bank customer portals also show ways to claim discounts through affiliated contacts.
SAVVY SHOPPING
Online
Memberships to online shopping outlets, such as Amazon Prime, Woolworths or Coles, may seem expensive but can very quickly pay for themselves.
Coles Plus, for example, costs $19 a month. With grocery delivery fees at more than $10, you are saving after two shops.
Similarly, OnePass which is connected with several brands including Kmart, offers free delivery for a small membership fee.
Some outlets, such as Amazon Prime, also give customers a 10 per cent discount on household essentials, such as dishwashing liquid, tea or coffee, and even pet food.
Shopping platforms such as Little Birdie offer users discounts on items curated to their spending habits.
Buying in bulk
Outlets such as Costco allow Aussies to save by buying in bulk.
Websites such as MyDeal also regularly offer deals on everyday items. For example, 375 Finish-branded dishwashing tablets are $99, compared to $120 RRP.
HOW TO SCORE CHEAP GROCERIES, FREE TECH
Moris Luhi always tries to make his dollar go further when shopping.
The father-of-five regularly buys products that have been reduced and unlocks discounts, such as $20-$30 off, by spending over a certain threshold.
He also keeps costs down by cooking meals in bulk and freezing portions.
But it is Flybuys that has delivered him some of his most significant grocery gains.
“I always activate the offers in the Flybuys app, which allows me to receive the standard points for scanning plus bonus points,” he said.
“Some of my biggest Flybuys wins include redeeming half of my overseas flights for myself and kids, which was about $1300 worth of points.
“I have also redeemed my Flybuys points to get two iPads for the kids and also recently treated myself to a brand new iPhone 12 Pro, worth $3000 in points.”
His family’s grocery bill is between $200 to $300 a week, which amounts to at least 10,000 points annually, excluding bonuses. Ten thousand points equates to $50.
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Originally published as Unclaimed riches: How Aussies can make fast cash now
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