money & Banking

Danielle McCarthy

Free $120 still up for grabs – have you received yours?

Free $120 still up for grabs – have you received yours?

The government has revealed that more than 1.3 million motorists from New South Wales still haven’t claimed their free $120 refund.

More than $136 million has been refunded to 2.32 million people so far, but there is $50 million that is yet to be claimed from 1.3 million people.

The suburbs with the highest number of unclaimed funds include Liverpool, Leumeah and Camden.

The refunds are the result of reforms to the compulsory third party (CTP) insurance scheme that reduced CTP premiums by up to $172 a year.

NSW motorists were previously subject to the most expensive CTP insurance in Australia, with an average premium costing $710.

The refund scheme is available to four million NSW vehicle owners with policies starting before December 1, 2017.

Last month, NSW Finance Minister Victor Dominello revealed the government extended the deadline for claiming the refund from September 30, 2018 to June 30, 2019.

“There are so many families and households who could benefit from these refunds, which is why we are extending the deadline,” he said.

“Claiming a refund is simple and easy and can be done via Service NSW either online, over the phone or in store. The new CTP scheme is a triple win for motorists who receive a cheaper Green Slip, a partial refund on what they paid last year and faster benefits should they be injured on the road.”

How to claim your refund

To claim your refund, go to the Service NSW website and login into your MyServiceNSW account. If you don’t have an account, you can create one here.

You can also claim your refund in-store or on the phone by calling 1300 287 733.

The minimum refund amount is $10 and the maximum is $120. Each refund claim is subject to an administration fee of $7.87, which means you have to be eligible for $17.87 or more to get any money back.

The refund will take up to 10 working days and will be transferred into your bank account. If you don’t claim your refund by the deadline, the money will go towards a reduction in the medical services levy next year.

Top suburbs for unclaimed refunds

  • Liverpool (2200)
  • Leumeah (1600)
  • Camden  (1500)
  • Westmead  (1200)
  • Cabramatta (1000)
  • Baulkham Hills (1000)
  • Kellyville (1000)
  • Bossley Park (1000)
  • Cecil Hills (966)
  • Blacktown (964)

Have you received your refund yet? Let us know in the comments below.