Small businesses will know tomorrow if they will face the possibility of a massive increase in compliance costs due to a change in privacy laws.
The Australian Law Reform Commission will release a discussion paper that may recommend exempting small businesses (those with less than $3 million revenue) be scrapped.
The Democrats have been pushing for the exemption to be scrapped, saying that Australians are putting personal information at risk when dealing with small business. Last month the Democrats introduced a bill that would require businesses to immediately notify customers if a security breach occurs in relation to their personal information.
If the exemption is scrapped businesses would be required to overhaul the way they collect and use data.
For more on privacy, go to SmartCompany’s Tax/Legal Update on Privacy: Your obligations, your rights