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Navigating tax complexity: Easing the pressure on custodians

Australian custodians are navigating an increasingly intricate tax landscape, facing unprecedented challenges due to evolving regulations, heightened data requirements, and intensified scrutiny from authorities. As they strive to maintain accuracy in tax reporting, custodians also need to ensure the efficiency and transparency of their processes. Incomplete or incorrect reporting can attract regulatory attention and penalties, while operational inefficiencies can undermine client trust and drive costs.