New Zealand's Inland Revenue holds over $160 million in unclaimed refunds

Over $160 million in unclaimed tax refunds remain outstanding from the past six tax years, according to Inland Revenue data. The data reveals 53,371 refunds from 2019 remain unclaimed, with larger amounts from more recent years, including $61.1 million from 2024. The refunds are automatically generated for most PAYE taxpayers. Reasons for unclaimed refunds include offsetting debts, missing bank details, or concerns about past tax errors. Some individuals may also find the online claiming process difficult.