Westpac Banking (ASX:WBC) Tax Rate %: 30.35% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

ASX:WBC Westpac Banking Corp ASX:WBC
66 GF Score
Price A$36.64
GF Value A$35.96
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Westpac Banking Tax Rate %?

Westpac Banking ASX:WBC -0.70% 66 Tax Rate % is 30.35% as of Mar. 2026. GuruFocus rates ASX:WBC with a GF Score™ of 66/100 and a GF Value™ of A$35.96 (Fairly Valued). The stock has 3 warning signs investors should review.

Tax Rate % is calculated as Tax Expense divided by its Pre-Tax Income. Westpac Banking's Tax Expense for the six months ended in Mar. 2026 was A$1,491 Mil. Westpac Banking's Pre-Tax Income for the six months ended in Mar. 2026 was A$4,913 Mil. Therefore, Westpac Banking's Tax Rate % for the quarter that ended in Mar. 2026 was 30.35%.

Westpac Banking Tax Rate % Related Terms

Westpac Banking Tax Rate % Historical Data

* Premium members only.

The historical data trend for Westpac Banking's Tax Rate % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Westpac Banking Tax Rate % Chart

Westpac Banking Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Tax Rate %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 35.74 32.71 30.12 30.84 30.97

Westpac Banking Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Tax Rate % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 30.85 30.83 31.37 30.60 30.35
ASX:WBC
66GF Score
Westpac Banking Corp ASX:WBC
Tax Rate % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Westpac Banking Tax Rate % Calculation

Tax Rate % is the ratio of tax expense divided by pretax income, usually presented in percent.

Westpac Banking's Tax Rate % for the fiscal year that ended in Sep. 2025 is calculated as

Tax Rate %=Tax Expense (A: Sep. 2025 )/Pre-Tax Income (A: Sep. 2025 )
=3111/10044
=30.97 %

Westpac Banking's Tax Rate % for the quarter that ended in Mar. 2026 is calculated as

Tax Rate %=Tax Expense (Q: Mar. 2026 )/Pre-Tax Income (Q: Mar. 2026 )
=1491/4913
=30.35 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Tax Rate % →
What does a Tax Rate % of 30.35% mean?
Westpac Banking (ASX:WBC) has a Tax Rate % of 30.35% as of Mar. 2026.
Is Westpac Banking's Tax Rate % too high?
Westpac Banking's current Tax Rate % is 30.35%. Overall, Westpac Banking has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Westpac Banking's Tax Rate % compare to JPM and BAC?
Westpac Banking's Tax Rate % of 30.35% can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Tax Rate % for a Banks company?
A good Tax Rate % depends on the Banks industry context. However, Tax Rate % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Tax Rate % mean?
A high Tax Rate % can signal that a stock is expensive relative to its fundamentals. Westpac Banking's current Tax Rate % is 30.35%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Westpac Banking stock overvalued right now?
Based on GuruFocus' analysis, Westpac Banking (ASX:WBC) is currently considered Fairly Valued. The stock's GF Value™ is A$35.96, compared to a current price of A$36.64 — trading 1.9% above its estimated fair value. The current Tax Rate % is 30.35%. Westpac Banking's overall GF Score™ is 66/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Tax Rate % calculated?
Tax Rate % is calculated from a company's financial statements. For Westpac Banking (ASX:WBC), the current Tax Rate % is 30.35% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Westpac Banking (ASX:WBC) Overvalued in 2026?

Based on GuruFocus' analysis, Westpac Banking stock appears to be overvalued. The current stock price of A$36.64 is trading 1.9% above its estimated GF Value™ of A$35.96. GuruFocus considers Westpac Banking to be Fairly Valued.

Key valuation signals for ASX:WBC:

  • Tax Rate %: 30.35%
  • GF Value™: A$35.96 vs. price of A$36.64 (1.9% above fair value)
  • GF Score™: 66/100 with 3 warning signs

No single metric tells the full story. See the ASX:WBC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Westpac Banking Business Description

Address 275 Kent Street, Level 18, Sydney, NSW, AUS, 2000
Westpac is Australia's oldest bank and financial services group, with a significant franchise in Australia and New Zealand in the consumer, small business, corporate, and institutional sectors, in addition to its major presence in wealth management. Westpac is among a handful of banks around the globe currently retaining very high credit ratings. The bank benefits from a large national branch network and significant market share, particularly in home loans and retail deposits.
66GF Score

Get the complete analysis for ASX:WBC

Tax Rate % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$36.64
Price
A$35.96
GF Value