I thought they must be 'digital' transistors.
Here's what it looks like in the LTspice simulator. I'm guessing the capacitor values and the Zener voltage.
Depending on the low state current required its probably easiest to use a dual comparator (with open collector outputs):
which is good for about 15mA (20mA abs. max.),
Another possibility is to use a LIN transceiver, for a single chip, minimal external components solution.
You can actually get away with using the Jaycar level translator bidirectionally, (Just connect the Arduino's software serial TX pin to the RX pin via a small Schottky diode, cathode to TX so it can only pull the combined TX/RX line low, but the problem is the Arduino's logic low threshold is then used for receive so if the bus doesn't pull down to within a volt or so of ground you dont get valid levels, and the Arduino TX pin has to be able to sink the whole bus pulloup current. I wouldn't recommend it - if anything goes wrong, your Arduino will let the holy smoke out.