Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 30

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 30
---
 top-up tax obligations of $7 million for the year ended 30 September 2025 which is included in the above total income tax expense. The Group has applied the mandatory temporary exception from recognising and disclosing Pillar Two deferred taxes under AASB 112.
Tax assets
         ​            ​      ​      ​       ​     ​      ​      ​       ​  
---------------------------------------------------------------------------
​                     ​            Consolidated   ​           Parent Entity
$m                    2025         2024           2025         2024        
Current tax assets    ​       20   ​         13   ​       17   ​         13
Deferred tax assets        2,058          2,147        1,826          1,883
Total tax assets           2,078          2,160        1,843          1,896
​
Tax liabilities
           ​              ​     ​      ​      ​     ​     ​      ​      ​  
---------------------------------------------------------------------------
​                          ​         Consolidated    ​        Parent Entity
$m                             2025          2024        2025          2024
Current tax liabilities         137           569          61           408
Total tax liabilities           137           569          61           408
​

​

                                                            ​                    
---------------------------------------------------------------------------------
FINANCIAL   EXHIBITS INDEX   STRATEGIC   PERFORMANCE   EXHIBIT 15.4   ADDITIONAL 
REPORT                       REVIEW      REVIEW                       INFORMATION
​

Note 7.Income tax (Continued)
Deferred tax assetsThe balance comprises temporary differences attributable to:

                                      ​                                          ​      ​       ​        ​      ​     ​      ​        ​   
------------------------------------------------------------------------------------------------------------------------------------------
​                                                                                ​               Consolidated   ​            Parent Entity
$m                                                                               ​      2025   ​         2024   ​    2025   ​         2024
Amounts recognised in the income statements and opening retained profits                                                                  
Provision for ECL on loans and credit commitments                                      1,481            1,519       1,312            1,314
Provision for long service leave, annual leave and other employee benefits       ​       422   ​          407   ​     405   ​          388
Property and equipment                                                           ​       190   ​          203   ​     192   ​          192
Other provisions                                                                 ​       195   ​          167   ​     172