http://www.news.com.au/money/banking/cas...r-1226585867131
Previously, a bank account had to be stagnant for 7 years, and the Govt would go after it...other week they changed it to 3 years.
News tonight was that the first bank that they went through looking for change that had fallen down the back of the lounge netted over 10 times their estimates...and ASIC (Australian Securities and Investment Commission) have revised their estimate on the proceeds of their first shake down to over $600M.
It's all OK 'though, as if you can identify that your account has been emptied, you can apply to get it back.
On top of recent changes defining what is a "reasonable" retirement saving, and can be taxed heavily anything after.
Previously, a bank account had to be stagnant for 7 years, and the Govt would go after it...other week they changed it to 3 years.
News tonight was that the first bank that they went through looking for change that had fallen down the back of the lounge netted over 10 times their estimates...and ASIC (Australian Securities and Investment Commission) have revised their estimate on the proceeds of their first shake down to over $600M.
It's all OK 'though, as if you can identify that your account has been emptied, you can apply to get it back.
On top of recent changes defining what is a "reasonable" retirement saving, and can be taxed heavily anything after.