Australian businesses are set to be impacted by the Federal Government’s commitment to stronger data privacy protections in its response to the review of the Privacy Act.
There are a number of proposals on the table, but the notable inclusion is the scrapping of the exemption that small businesses with revenues sub-$3m are afforded for complying to the Privacy Act.
I won't be alone in applauding this move!
If you're using the services of an independent tax advisor, or financial advisor, or are an employed by one of these small businesses, they hold a wealth of your personal data. My expectation is that if you want to trade, you have a duty to protect the information you're the custodian of.
For small businesses, it's time to educate on your obligations.
There is more on this on the Victorian Chamber of Commerce website at https://www.victorianchamber.com.au/news/privacy-act-changes-to-impact-business
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