Bridging Funding for JobKeeper
April 30, 2020
Australia's Major Banks Open Dedicated Hotlines
Australian banks are playing a vitally important role in bridging the finance that businesses need to pay their staff ahead of receiving the first JobKeeper Payment in the first week of May.
It is an integrity measure that businesses pay their staff before receiving the JobKeeper Payment.
On 23 April 2020, the Treasurer announced the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Westpac and ANZ banks agreed to establish dedicated hotlines for their customers to call to receive the bridging finance necessary to pay their staff ahead of receiving the JobKeeper Payment.
The hotlines are as follows:
CBA: 13 26 07
ANZ: 1800 571 123
NAB: 1800 JOBKEEPER(1800 562 533)
Westpac: 1300 731 073
and Westpac’s subsidiaries;
St George: 1300 730 196
Bank of Melbourne: 1300 784 873
Bank SA: 1300 669 472
The banks have also agreed to bring to the front of the queue all bridging finance applications.
This means any business that is eligible for the JobKeeper Payment can now ring the dedicated hotline for the bank and ask for the bridging finance necessary to pay their staff. The banks know their customers. They know these businesses. The banks need to stand by these businesses in their time of greatest need and that is now.
The ATO have also set out detailed guidance on eligibility and enrollment for the JobKeeper Payment.
Please visit: https://www.ato.gov.au/General/JobKeeper-Payment/
Many small business owners report difficulties when it comes to the delay between issuing an invoice and actually getting paid.
Inventory management is critical for any business. It'll help keep enough stock to satisfy customer demand and avoid pitfalls associated with inventory.
Builders report difficulties recruiting or retaining skilled workers. We outline what’s causing the shortages and how you can find those much-needed skilled workers.
Positive cashflow is the beating heart of your business. Read our Plain English guide to cashflow and find out how to get in complete control of your cash position.
At the Federal Budget in May 2026, the Government announced that it would reintroduce a loss carry back tax offset for companies.
Working for yourself or running your own business? Setup robust systems for expenses & tax requirements so you can focus on your important tasks.
From 1 October 2026, businesses will no longer be able to apply a surcharge to card payments on designated eftpos, Mastercard and Visa networks.
Do you know how to track the financial health of your business? We highlight 5 key metrics you should be tracking and managing to keep your finances on course.
Now comes a decision for anyone who uses their car for work: is it better to claim a deduction using the logbook or cents per kilometre method?
Why is good bookkeeping so vital for your financial management? We’ve got some top hacks for maximising your bookkeeping!
