Employers finding it hard to pay jobseeker ?

Discussion in 'Accounting & Tax' started by [email protected], 24th Apr, 2020.

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  1. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    15,124
    Location:
    Sydney
    The Treasuer has met with the Big4 banks to seek assistance for some employers accessing sufficient cash to be able to pay employees jobkeeper earnings so that they can access jobkeeper support which is paid to the employer later. Some empployers want to use jobseeker but the cashflow timing is an obstacle.

    The 4 have agreed to setup specialised briding finance to employers in this case. I assume it will operate like invoice financing where the bank will fund the wages and seek the jobkeeper as repayment.

    No word of fees and rates or sizes of emplyers but I expect it could be a concessional rate and funded by the Commonwealth through the RBA

    Direct contact teams are :
    Westpac 1300 731 073
    NAB 1800 562 533
    CBA 132607
    ANZ 1800 571 123
     
    Foxdan and EN710 like this.