What is Personal Information and why do we collect it?

Loyal Bright Accountants ("we", "us", or "our") is committed to providing quality accounting, taxation, and advisory services to you. This policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.

As a professional accounting firm, we are strictly bound by the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth), the Tax Agent Services Act 2009 (TASA), and the professional standards of CPA Australia (including APES 110 Code of Ethics for Professional Accountants). These frameworks govern the way in which we collect, use, disclose, store, secure, and dispose of your Personal Information.

Personal Information is information or an opinion that identifies an individual. The Personal Information we collect to provide our professional services includes, but is not limited to: names, addresses, email addresses, phone numbers, Tax File Numbers (TFNs), Australian Business Numbers (ABNs), banking details, and financial records.

This Personal Information is obtained in many ways including interviews, correspondence, by telephone, by email, via our website, from your accounting software (e.g., Xero, MYOB), from the Australian Taxation Office (ATO), and from other authorized third parties.

We collect your Personal Information for the primary purpose of providing accounting, taxation, bookkeeping, and advisory services to you, as well as communicating with relevant government authorities on your behalf.

Sensitive Information

Sensitive information is defined in the Privacy Act to include information or opinions about such things as an individual's racial or ethnic origin, political opinions, trade union membership, or criminal records. We will only use sensitive information:

• For the primary purpose for which it was obtained;
• For a secondary purpose that is directly related to the primary purpose;
• With your explicit consent; or where required or authorised by law.

Third Parties & Disclosure

Where reasonable and practicable to do so, we will collect your Personal Information directly from you. We do not sell your personal information to third parties. Your Personal Information may be disclosed in a number of circumstances, including:

• To government bodies such as the ATO and ASIC in the performance of our engaged services;
• To third-party software providers (such as Xero or MYOB) used to manage your accounts;
• Where you explicitly consent to the use or disclosure; and
• Where required or authorised by Australian law.

Security & Retention of Personal Information

Your Personal Information is stored in a manner that reasonably protects it from misuse, loss, and from unauthorized access, modification, or disclosure. We utilise industry-standard physical and electronic security measures.

In accordance with Australian taxation laws and CPA Australia professional standards, client files and financial records must be retained by us for a minimum period of 7 years. When your Personal Information is no longer needed for any legal or service purpose, we will take reasonable steps to securely destroy or permanently de-identify it.

Notifiable Data Breaches (NDB)

In the unlikely event of a data breach that is likely to result in serious harm, Loyal Bright Accountants is compliant with the Notifiable Data Breaches (NDB) scheme and will promptly notify affected individuals and the Office of the Australian Information Commissioner (OAIC).

Accessing & Maintaining Your Information

You may access the Personal Information we hold about you to update and/or correct it, subject to certain legal exceptions. If you wish to access your Personal Information, please contact us in writing. We will not charge a fee for your access request, but may charge an administrative fee for providing a copy of your complex financial files.

It is important to us that your information is accurate. If you find that the information we have is not up to date, please advise us as soon as practicable so we can update our records and ensure we continue to provide quality services to you.