Reading time: 3 minutes

The answer to the question “Do I really need to have to have a Privacy Policy?” is – It depends.

Earlier in 2014, the Australian Privacy Principles (APPs) were introduced to supplement the Privacy Act. The APPs apply to Australian government agencies and private sector organisations with an annual turnover of $3 million or more. So if your online business will have an annual turnover of more than $3 million, yes, you should definitely have a privacy policy.

Frequently Asked Questions about Privacy Policies

What if I have less than $3 million turnover, should I still get one? Yes!

Is it good business practice to have one? Yes!

Do you recommend that I get one? Yes!

Can I draft my own? You probably could, but it’s risky! Unless you are an experienced business lawyer who is familiar with the APPs, then this will be very difficult.

If you’re thinking about getting a Privacy Policy, a business or contract lawyer will be able to quickly draft a Privacy Policy that fulfills the applicable legal requirements and is tailored to your business.

Why should I have a Privacy Policy?

As technology continues to develop, it becomes more and more important that the privacy of every individual is well-protected. In addition to ensuring your compliance with the APPs and the Privacy Act in general, having a privacy policy gives your customers peace of mind about how their personal information will be utilised.

What needs to be covered in my Privacy Policy?

The APPs set out exactly what your privacy policy needs to cover.

In general, it should set out:

  • what personal information you collect;
  • how you will use that personal information;
  • in what circumstances will personal information be disclosed;
  • how the personal information is stored;
  • what rights your customers have to access their personal information; and
  • what happens when you find out that the personal information you have collected is incorrect or no longer accurate.

What happens if I am in breach of the Privacy Act?

If the Privacy Act applies to your business, you must have a privacy policy. Serious and/or repeated breaches of the Privacy Act can lead to fines of up to $1.7 million for companies or $340,000 for other entities, including individuals.

Other legal documents

In addition to a privacy policy, we also recommend that you have website terms of use and a set of business terms and conditions.

Conclusion

When you are operating a business, whether online or offline, it is important that you have the right legal documents to protect your business. If you are unsure of what legal documents you need, or how to draft the right documents, contact a contract lawyer at LegalVision today!

Webinars

Construction Contract Essentials

Thursday 12 August | 11:00 - 11:45am

Online
Understand how construction contracts are drafted and how to protect your construction business.
Register Now

Startup 101: Understanding Cap Tables and ESOPs

Thursday 19 August | 11:00 - 11:45am

Online
Cap tables and employee share option plans are essential for fast-growing startups. Learn more with this free webinar.
Register Now

Expanding to NZ: Structuring Your Business For Success

Thursday 26 August | 2:00 - 2:45pm

Online
Launching a business in New Zealand? Understand how to structure your business for success with this free webinar.
Register Now

Preventing Modern Slavery: Your Business’ Legal Obligations

Thursday 9 September | 11:00 - 11:45am

Online
Are you an Australian business with $100m+ annual consolidated revenue? Learn how to determine if you are a modern slavery reporting entity and your obligations under the legislation with this free webinar.
Register Now

About LegalVision: LegalVision is a tech-driven, full-service commercial law firm that uses technology to deliver a faster, better quality and more cost-effective client experience.

The majority of our clients are LVConnect members. By becoming a member, you can stay ahead of legal issues while staying on top of costs. From just $119 per week, get all your contracts sorted, trade marks registered and questions answered by experienced business lawyers.

Learn more about LVConnect

Need Legal Help? Get a Free Fixed-Fee Quote

If you would like to receive a free fixed-fee quote or get in touch with our team, fill out the form below.

  • 2020 Excellence in Technology & Innovation – Finalist – Australasian Law Awards 2020 Excellence in Technology & Innovation Finalist – Australasian Law Awards
  • 2020 Employer of Choice – Winner – Australasian Lawyer 2020 Employer of Choice Winner – Australasian Lawyer
  • 2021 Fastest Growing Law Firm - Financial Times APAC 500 2021 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review 2020 AFR Fast 100 List - Australian Financial Review
  • 2021 Law Firm of the Year - Australasian Law Awards 2021 Law Firm of the Year - Australasian Law Awards
  • Most Innovative Law Firm - 2019 Australasian Lawyer 2019 Most Innovative Firm - Australasian Lawyer