Terms and Conditions
Please read these terms carefully before using CGT Brain AI Timeline
1. Introduction and Scope
These Terms and Conditions (the "Terms") govern your access to and use of CGT BRAIN. By downloading, accessing, or using the App, you agree to be bound by these Terms and the Laws of Australia.
2. No Professional Advice (The "Tax Disclaimer")
- •General Information Only: The App is a digital tool designed to assist users in navigating Capital Gains Tax (CGT) concepts. It provides general information and automated logic based on user inputs.
- •No Tax Agent Relationship: Use of this App does not create a tax agent-client relationship or a fiduciary relationship. CGT BRAIN is not a Registered Tax Agent.
- •Verification Required: Tax laws are complex and subject to change. You should not act on the App's output without independent verification from a Qualified Tax Professional or the Australian Taxation Office (ATO).
3. User Responsibilities and Inputs
- •Data Accuracy: The accuracy of any assessment regarding CGT exemptions is strictly dependent on the data you provide. You warrant that all information entered is true and correct.
- •Record Keeping: You acknowledge that under Australian law, you are responsible for maintaining primary records (receipts, contracts) to support your tax positions for at least 5 years.
4. Australian Consumer Law (ACL)
Consumer Guarantees: Our services come with guarantees that cannot be excluded under the Australian Consumer Law. Nothing in these Terms excludes, restricts, or modifies any right or remedy you have under the Competition and Consumer Act 2010 (Cth).
Limitation of Liability: To the maximum extent permitted by law, CGT BRAIN is not liable for:
- •Inaccurate tax assessments or missed exemptions.
- •ATO audits, penalties, or interest charges.
- •Financial losses arising from reliance on the App's output.
5. Intellectual Property
All algorithms, logic flows, "checklists," and interface designs used to determine CGT status are the exclusive intellectual property of CGT BRAIN. You are granted a limited, non-transferable license for personal or internal business use only.
6. Privacy and Security
Your privacy is governed by our Privacy Policy, which complies with the Privacy Act 1988.
- •Data Handling: We use industry-standard encryption to protect your financial data.
- •Anonymity: The app can be used without linking a real identity.
7. Updates to Tax Logic
Tax legislation in Australia (including the Income Tax Assessment Act 1997) is subject to frequent amendment. While we endeavour to update the App, we do not guarantee that the App reflects the "real-time" state of the law at every moment.