GET YOUR CASH BACK
Public unaware of billions of dollars in unclaimed riches
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 rises, we look at where you can unexpectedly find cash that belongs to you.
And according to Joel Gibson from money-saving website One Big Switch, the government is the place to start.
“By my calculations, there’s around $18.6bn of our money sitting in … three ‘pots’ just waiting for us to claim it back,” he said.
SUPER
There is $16bn in lost and unclaimed super, up $2.1bn since last financial year, the Australian Taxation Office announced this week.
Finding lost or unclaimed super was easy and could 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.”
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.
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 combined $1bn.
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.
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 to 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 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, including checkups, 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 schoolaged 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, dancing 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 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 shopping online. 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 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 in line with their spending habits.
Buying in bulk
Outlets such as Costco allow you to buy in bulk. Websites such as MyDeal also offer deals on everyday items.