B. Amounts recognised in profit or loss
Table 8: Amounts recognised in profit or loss
2024/25 Deferred $M
2023/24 Deferred $M
Current $M
Total $M (152) (1)
Current $M
Total $M (115) 2
Income tax equivalent expense Adjustment for income tax equivalent of previous years
(76) (4)
(76) 3
(43) 2
(72) -
(80)
(73)
(153)
(41)
(72)
(113)
2024/25 $M
2023/24 $M
Income tax equivalent expense is attributable to: Profit for the reporting year Current tax equivalents included in income tax equivalent expense Deferred tax equivalents included in income tax equivalent expense comprises: Movement in deferred tax equivalent assets (note 16(c)) Movement in deferred tax equivalent liabilities (note 16(d))
(113) (41) 4 (76) (113)
(153) (80) 35 (108) (153)
C. Reconciliation of profit to income tax equivalent expense
Table 9: Reconciliation of profit to income tax equivalent expense
2024/25 $M
2023/24 $M
Profit before income tax equivalent expense
491
494
(147)
(148)
Income tax equivalent expense at the Australian tax rate of 30 per cent (30 June 2024: 30 per cent) Income tax equivalent effect for non-temporary tax equivalent adjustments: Other allowable deductions Net non-deductible expenses and assessable income Net research and development expenses and incentives
(4) (1) -
31 (1) 3
Current income tax equivalent expense Adjustment for current tax equivalent of previous years Adjustment for deferred tax equivalent of previous years
(152) (4) 3 (153)
(115) 2 - (113)
Total income tax equivalent expense
D. Amounts recognised in other comprehensive income
Table 10: Amounts recognised in other comprehensive income
2024/25 $M
2023/24 $M
Changes in the fair value of cash flow hedges Re-classifications of cash flow hedges to profit or loss Re-classifications of cash flow hedges not to profit or loss
16 (3) -
4 (3) (1)
13
-
96
Western Power Annual Report 2025
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