Bridging Funding for JobKeeper Payment

COVID-19 | Bridging Funding for JobKeeper

Senator the Hon Michaelia Cash has released the following update to assist Small Businesses and Households impacted by COVID-19

Bridging Funding for JobKeeper

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
  • 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 enrolment for the JobKeeper Payment.

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To view more updates from Senator the Hon Michaelia Cash, click here.

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