I recently bought something off the internet and it didn't come within the time they said which was 7 days, and neither did it come within 30 days so I placed a Paypal refund dispute and the money was refunded to me, two weeks after this at about the 54 day mark since it was shipped I got it. Am i required to return it? or is it covered under the "unsolicited goods" laws?
It isn't unsolicited, so it wouldn't be covered by that. The item now doesn't belong to you, so not returning it would be dishonest. Get in touch with the company and arrange them to pay for the return.
You could also arrange payment if you wanted to keep the item.
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I believe you would not immediately own the item but would not be obliged to pay to return it - ie if they want it back they would have to pay for shipping and handling - If they don't, after a reasonable period of time it would be considered abandoned and I guess you could claim it ! (Note this is a general law perspective from someone in NZ rather then AU - and I'm not a lawyer !)
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Not exactly on-point, but related - accc.gov.au/consumers/consumer-rights-guarantees/… talks about returning a product if there is a problem.– davidgoJun 13 '16 at 4:02