The Inland Revenue is sitting on HOW much of our money???
In the Dom Post yesterday was a short piece about the Unclaimed Monies department at the Inland Revenue.
It seems that if money has been sat untouched in banks, businesses or insurance policies for more than 6 years, it gets given to the Inland Revenue for safe keeping. They keep a list of all the people involved and how much, but you have to know its there and claim the money.
They currently have over $5,000,000 sitting there.
Now it wont affect any new Migrants because you wont have been here long enough to have funds lost in a bank account anywhere. We have only been here 5 1/2 years (exactly today as it happens). But It the kind of thing I really detest about the IRD so i felt it worth blogging about. Because there something I just don’t get.
There IRD has the most extraordinary powers to chase unpaid taxes. They have huge resources to chase you and track you down. So why are they relying on you to know about their web page and tell then to give you your money back?
Most of the amounts we are talking about a re a few hundred dollars. But some people have ten or twenty thousand stuck in there. This is not small fry!
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Related posts:
- Inland Revenue Humour
- And why are the IRD being so selective in who they audit and prosecute?
- Tax isn’t fair – deal with it.
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