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Thursday, 06 June 2013 10:31

Inactive Bank Accounts - Government on the prowl

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We all know that the certainties in life are death and taxes.  While technically not a tax, the Government recently changed the rules on inactive bank accounts as a novel way to increase Government revenue.

Bank accounts that have been inactive for 3 years (ie no deposits or withdrawals) will now become the property of the Government after recently introduced changes.

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This serves as a reminder that unless you wish to make a donation to our great nation, please ensure that any bank accounts you may own remain active.

 

 

Read 944 times Last modified on Thursday, 06 June 2013 10:31
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