Privacy Policy

1. INTRODUCTION

1.1 In the course of our business in Australia, there are circumstances where we (MGD Wealth Ltd and its associated companies) collect personal information. This privacy policy has been developed to ensure that such information is handled appropriately.

1.2 We are committed to complying with the Privacy Act 1988 (Cth) (Privacy Act) in relation to all personal information we collect. Our commitment is demonstrated in this policy. The Privacy Act incorporates the Australian Privacy Principles (APPs). The APPs set out the way in which personal information must be treated.

1.3 This privacy policy also incorporates our policy on managing credit information (see particularly section 7.1 onwards).

Who does the privacy policy apply to?

1.4 This policy applies to any person for whom we currently hold, or may in the future collect, personal information.

What information does the privacy policy apply to?

1.5 This policy applies to personal information. In broad terms, ‘personal information’ is information or opinions relating to a particular individual who can be identified.

1.6 Information is not personal information where the information cannot be linked to an identifiable individual.

2. HOW DO WE MANAGE THE PERSONAL INFORMATION WE COLLECT?

2.1 We manage the personal information we collect in numerous ways, such as by:

(a) implementing security systems for protecting personal information from misuse, interference and loss from unauthorised access, modification or disclosure;

(b) providing new staff with induction training on privacy issues;

(c) appropriately supervising staff who regularly handle personal information;

(d) implementing procedures for avoiding privacy breaches.

2.2 Subject to our professional obligations, we will take reasonable steps to destroy or permanently de-identify personal information if that information is no longer needed for the purposes for which we are authorised to use it.

2.3 In limited circumstances, it may be possible for you to use a pseudonym or remain anonymous when dealing with us. If you wish to use a pseudonym or remain anonymous you should notify us when making first enquiries or providing initial instructions. We will use our best endeavours to deal with your request, subject to our professional obligations and ability to perform the accounting service to you without using your name. In most cases, our professional obligations will require you to deal with us using your real name.

2.4 We are also subject to professional obligations which may affect how we deal with personal information.

3. WHAT KINDS OF INFORMATION DO WE COLLECT AND HOLD?

3.1 MGD Wealth is a financial services group and the Corporations Act 2001 (Cth) and Rules of Professional Conduct of the Financial Planning Association of Australia require us to collect sufficient information to ensure appropriate advice can be given for recommendations made to you.

Personal information

3.2 We may collect and hold personal information about you, which may include:

(a) sensitive information (see below);

(b) contact information;

(c) financial information;

(d) date and place of birth;

(e) employment history and arrangements;

(f) tax returns and tax file numbers;

(g) credit information;

(h) banking details;

(i) family situations;

(j) insurance information;

(k) details of any legal proceedings that you are involved in; and

(l) any other personal information required to perform the financial or accounting service for you.

Sensitive information

3.3 ‘Sensitive information’ is a subset of personal information and includes personal information that may have serious ramifications for the individual concerned if used inappropriately.

3.4 The sensitive information we usually collect and hold about an individual may include any of the following if it is relevant in providing the accounting or financial service to the individual (such as completing tax returns etc.):

(a) health information;

(b) racial or ethnic origin;

(c) religious affiliation;

(d) membership of professional or trade associations;

(e) membership of trade unions;

3.5 We will not collect sensitive information without the individual’s consent to whom the information relates unless permitted under the Privacy Act.

4. HOW AND WHEN DO WE COLLECT PERSONAL INFORMATION?

4.1 Our usual approach to collecting personal information is to collect it directly from you.

4.2 We may also collect personal information in other ways, which may include:

(a) through referrals from individuals or other entities;

(b) from third party service providers and suppliers;

(c) from paid search providers; and

(d) Government agencies, for example, the Australian Taxation Office or the Australian Securities and Investments Commission

5. HOW DO WE HOLD PERSONAL INFORMATION?

5.1 Our usual approach to holding personal information includes:

(a) physically

(b) at our premises (securely); electronically:

(i) on secure online servers;
(ii) on a private cloud; and
(iii) by a third party data storage provider.

5.2 We secure the personal information we hold in numerous ways, including:

(a) using security cards to access areas that contain personal information;

(b) using secure servers to store personal information;

(c) storing important documents and physical servers in locked storage rooms;

(d) using unique usernames, passwords and other protections (such as firewalls) on systems that can access personal information; and

(e) using secure disposal bins.

6. WHY DO WE COLLECT, HOLD, USE OR DISCLOSE PERSONAL INFORMATION?

6.1 We take reasonable steps to use and disclose personal information for the primary purpose for which we collect it. The primary purpose for which information is collected varies, depending on the particular service being provided, but is generally to provide accounting, financial advisory or tax services to you or your business.

6.2 In the case of potential employees, the primary purpose the information is collected is to assess the individual’s suitability for employment.

6.3 Personal information may also be used or disclosed by us for secondary purposes which are within your reasonable expectations and which are related to the primary purpose of collection.

6.4 For example, we may collect and use your personal information:

(a) to provide you with updates and alerts that are relevant to you or your business; and

(b) to invite you to events.

6.5 We may disclose personal information to:

(a) other third parties if it is necessary to provide you with the accounting, financial advisory or tax service;

(b) our external auditors; and

(c) to Government agencies, including the Australian Taxation Office and the Australian Securities and Investment Commission.

6.6 Otherwise, we will only disclose personal information to third parties if permitted by the Privacy Act.

7. WILL WE DISCLOSE PERSONAL INFORMATION OUTSIDE AUSTRALIA?

7.1 In the course of providing services to you, MGD may from time to time enter into contracts with other parties. These parties may be related entities to MGD, or third parties being contactors, agents or service providers with employees and operations here in Australia and overseas. These third parties may include but are not limited to IT and data storage services and accounting services.

In doing so MGD may be requested or required to disclose to, or collect from, those parties your personal information or information in relation to your financial affairs. Any such disclosure or collection of information is handled in the utmost confidence and in strict compliance with MGD’s Privacy Policy.

7.2 By submitting your personal information to MGD Wealth Ltd, you expressly agree and consent to the disclosure, transfer, storing or processing of your personal information outside of Australia. In providing this consent, you understand and acknowledge that countries outside Australia do not always have the same privacy protection obligations as Australia in relation to personal information. However, we will take all reasonable steps to ensure that your information is used by third parties securely and in accordance with the terms of this privacy policy.

7.3 The Privacy Act 1988 requires us to take such steps as are reasonable in the circumstances to ensure that any recipients of your personal information outside Australia do not breach the privacy principles contained with in the Privacy Act 1988. By providing your consent, under the Privacy Act 1988, we are not required to take such steps as may be reasonable in the circumstances. However, despite this, we acknowledge the importance of protecting personal information and have taken reasonable steps to ensure that your information is used by third parties securely and in accordance with terms of this privacy policy.

8. HOW DO WE MANAGE YOUR CREDIT INFORMATION?

What kinds of credit information may we collect?

8.1 In the course of providing accounting or financial services to you, we may collect and hold the following kinds of credit information:

(a) your identification information;

(b) information about any credit that has been provided to you;

(c) your repayment history;

(d) information about your overdue payments;

(e) if terms and conditions of your credit arrangements are varied;

(f) if any court proceedings are initiated against you in relation to your credit activities;

(g) information about any bankruptcy or debt agreements involving you;

(h) any publicly available information about your credit worthiness; and

(i) any information about you where you may have fraudulently or otherwise committed a serious credit infringement.

8.2 We may also collect personal information which may affect your credit worthiness from other credit providers (e.g. banks) that collect this information from credit reporting bodies. The kinds of personal information we collect may include any of those kinds of information outlined in section 3 of this policy.

How and when do we collect credit information?

8.3 In most cases, we will only collect credit information about you if you disclose it to us and it is relevant in providing you with an accounting, financial advisory or tax service.

8.4 Other sources we may collect the credit information from include:

(a) banks and other credit providers;

(b) other individuals and entities via referrals; and

(c) your suppliers and creditors.

8.5 We do not collect and hold credit information from credit reporting bodies unless it is incidentally collected in providing an accounting, financial advisory or tax service to you.

How do we store and hold the credit information?

8.6 We store and hold credit information in the same manner as outlined in section 5 of this policy.

Why do we collect the credit information?

8.7 Our usual purpose for collecting, holding, using and disclosing credit information about you is to enable us to provide you with the accounting or financial service.

8.8 We may also collect the credit information:

(a) to process payments; and

(b) for other purposes incidental to our services.

Overseas disclosure of the credit information

8.9 We will not disclose your credit information to entities without an Australian link unless you expressly request us to.

How can I access my credit information, correct errors or make a complaint?

8.10 You can access and correct your credit information, or complain about a breach of your privacy in the same manner as set out in section 9 of this policy.

9. HOW DO YOU MAKE COMPLAINTS AND ACCESS AND CORRECT YOUR PERSONAL INFORMATION OR CREDIT INFORMATION?

9.1 It is important that the information we hold about you is up-to-date. You should contact us if your personal information changes.

Access to information and correcting personal information

9.2 You may request access to the personal information held by us or ask us for your personal information to be corrected by using the contact details in this section.

9.3 We will grant you access to your personal information as soon as possible, subject to the request circumstances, and our professional obligations.

9.4 In keeping with our commitment to protect the privacy of personal information, we may not disclose personal information to you without proof of identity.

9.5 We may deny access to personal information if:

(a) the request is unreasonable;

(b) providing access would have an unreasonable impact on the privacy of another person;

(c) providing access would pose a serious and imminent threat to the life or health of any person;

(d) providing access would compromise our professional obligations; or

(e) there are other legal grounds to deny the request (such as, it would result in a breach of our professional obligations).

9.6 We may charge a fee for reasonable costs incurred in responding to an access request. The fee (if any) will be disclosed prior to it being levied.

9.7 If the personal information that we hold is not accurate, complete and up-to-date, we will take reasonable steps to correct it so that it is accurate, complete and up-to-date, where it is appropriate to do so.

Complaints

9.8 If you wish to complain about any breach or potential breach of this privacy policy or the Australian Privacy Principles, you should contact our Privacy Officer by any of the methods detailed below.

Your complaint will be considered and responded to within 14 days. We will seek to address any concerns that you have through our complaints handling processes, however, if you are unhappy with our response, you are entitled to contact the Office of the Australian Information Commissioner who may investigate your complaint further.

Who to contact

9.9 A person may make a complaint or request to access or correct personal information about them held by us. We will take reasonable steps to ensure the personal information we hold is accurate and complete. Such a request must be made in writing to the following address or contact officer:

Contact: Privacy Officer
Postal Address: PO Box 7074, East Brisbane QLD 4169
Telephone number: 07 3391 5055
Email address: privacy@mgdwealth.com.au

10. CHANGES TO THE POLICY

10.1 We may update, modify or remove this policy at any time without prior notice. Any changes to the privacy policy will be published on our website.

This policy was last updated in March 2015. If you have any comments on the policy, please contact the privacy officer with the contact details in section 9 of this policy.