Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 31

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 31
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        211   ​          233   ​      214   ​          214
Defined benefit                                                                  ​         43   ​           38   ​       41   ​           37
Total amounts recognised directly in OCI                                         ​        254   ​          271   ​      255   ​          251
Gross deferred tax liabilities                                                          1,019            1,153   967                   1,071
Set-off of deferred tax assets and deferred tax liabilities                           (1,019)          (1,153)        (967)          (1,071)
Net deferred tax liabilities                                                                -                -            -                -
Movements                                                                                   ​   ​            ​   ​        ​   ​            ​
Balance as at beginning of year                                                             -                -            -                -
Recognised in the income statements                                              ​      (117)   ​         (56)   ​    (108)   ​         (56)
Recognised in OCI                                                                ​       (17)   ​           55   ​        4   ​          175
Set-off of deferred tax assets and deferred tax liabilities                      134            1                104                   (119)
Balance as at end of year                                                                   -                -            -                -
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WESTPAC GROUP 2025 ANNUAL REPORT
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NOTES TO THE FINANCIAL STATEMENTS

Note 7.Income tax (Continued)
Unrecognised deferred tax balancesThe following potential deferred tax balances have not been recognised. The tax effect of the gross balances disclosed below would be based on the corporate tax rates applicable in the relevant jurisdictions, which range between 15% and 40%.

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​                                                                                           ​          Consolidated    ​   Parent Entity     
$m                                                                                          2025               2024        2025   2024       
Deductible temporary differences                                                                                                             
Tax losses on revenue account                                                               ​     414      ​    422    ​   414    ​      422 
Tax losses on capital account                                                               424                 265         380   150        
Taxable temporary differences                                                                                                                
Retained earnings of subsidiaries that would be subject to withholding tax if distributed   401                 402        -             -   
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Note 8.Earnings per share
Accounting policy​

Basic earnings per