The Government Guarantee Scheme for Large Deposits and Wholesale Funding is closed to new issuance. Queries about the continuing deposit guarantee should be made to the Financial Claims Scheme.
Financial Claims Scheme
The Australian Government has guaranteed deposits up to $250,000 in Authorised Deposit-taking Institutions (ADIs) such as your bank, building society or credit union. This means that this money is guaranteed if anything happens to the ADI.
The guarantee applies to all ADIs incorporated in Australia, including Australian-owned banks, foreign subsidiary banks, building societies and credit unions. To check which banks are covered by the guarantee see the Australian Prudential Regulation Authority's list of ADIs.
For more details see APRA's FAQ: Authorised Deposit-taking Financial Claims Scheme.