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Small business accounting helping you track lost funds

 small business accounting

Ever wondered how to get something for nothing, well we may have just found the answer for you!

Many individuals have money sitting in places they don't even know exist. Such places can include lost superannuation funds, lost bank accounts, dividend cheques that were lost or never banked and insurance policies paid in advance that may have been cancelled before their time was due.

The government has put together a great website that enables you to track down lost funds. It can be found at www.moneysmart.gov.au. From this website you can then link to the ATO to search for lost superannuation or the ASIC to search for other unclaimed money.

Whilst you might think that this isn't an exercise worthy of your time, it may interest you to know that the Treasury currently estimates that there is $13 billion in lost superannuation funds just waiting to be claimed.
So I guess that technically this isn't something for nothing, as you are only claiming back what was rightfully yours in the first place. It's still a great feeling to discover that you are entitled to funds you probably didn't know existed.

For more information on this matter contact us, the original accountants for small business in Sydney.

 
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