About Jarospace
Jaro Space Operations Pty Ltd (ABN 89 648 528 750) (Jarospace) is an independent professional services company which allows individuals the ability to establish and manage a Self Managed Superannuation Fund (SMSF). Details about Jarospace and its services are found on our website https://www.jarospace.com (the Website).
Jaro Space Operations Pty Ltd ABN 89 648 528 750 is a registered tax agent (RAN 26220264). We only provide tax agent services in relation to your Self Managed Superannuation Fund. We do not provide any financial advice of any kind. Prior to engaging us to establish your Self Managed Superannuation Fund, take advice from a financial advisor who holds an Australian Financial Services Licence (AFSL) and/or conduct your research in making a decision to set up a Self Managed Superannuation Fund.
By using our service, you agree to be bound by the following terms and conditions.
Acceptance of these Terms
You accept these terms and conditions (the Terms) by registering for the Services (as defined in the Terms); browsing the Jarospace website; logging into the Jarospace Platforms; or by accepting the Terms by clicking “Next” or “Agree” in the user interface of the Jarospace Platforms and/or documents. If you do not accept the Terms, you must cease use of the Jarospace Platforms and the Services, immediately.
You may not use the Services and may not accept the Terms if: you are not of legal age to form a binding contract with Jarospace; or you are a person barred from receiving the Services under the laws of Australia or other countries including the country in which you are resident or from which you use the Services.
By engaging Jarospace, you acknowledge and understand that Jarospace does not provide you with any tax, legal, accounting or other specialist, professional or technical advice, except for the services which Jarospace is authorised to provide in accordance with its tax agent licence.
Jarospace reserves the right to review and change any of the Terms by updating this page at its sole discretion. When Jarospace updates the Terms, it will use reasonable endeavours to provide you with notice of the same. Any changes to the Terms take immediate effect from the date of their publication.
Before you continue, we recommend you keep a copy of the Terms for your records.
Account Set Up
To access the Services, you are required to register for an account with Jarospace (the Account). You may register for an account via the Jarospace website or by telephone. If you register for the Account by telephone, either in part or in full, you acknowledge and agree that you may be recorded for quality assurance.
As part of the registration process or as part of your continued use of the Services, you will be required to provide personal information about yourself (such as identification, contact details, Tax File Number, and other personal information).
You agree that any personal information you give to Jarospace will always be accurate, correct, and up to date.
You understand that by supplying Jarospace with your address, email address, and phone number, you may receive regular emails, newsletters, telephone calls, or SMS updates from Jarospace to keep you informed about Jarospace’s activities. If you do not wish to receive updates from Jarospace, you may contact Jarospace.
Jarospace will hold any information provided in relation to the Services in accordance with the Privacy Act 1988 (Cth) and the Privacy Policy available on the Website at https://www.jarospace.com/privacy-policy/ (the Privacy Policy). You consent to the Privacy Policy, and any changes that may occur from time to time.
The Services
Jarospace and its third-party service providers (the Third-Party Providers) offer you the following Services:
Establishment of an SMSF, inclusive of:
Establishment of an SMSF trust (the Trust), including the preparation of a trustee declaration and trust deed;
Incorporation of a special purpose corporate trustee company with you being the director and officer (the Trustee) (hereinafter you refers to you personally and you in your capacity as director and/or officer of the Trustee);
Establishment of SMSF governing rules;
Submission of “election to be regulated” compliance statement; and
Access to our tools to assist you in establishing your investment strategy and registration of your investment strategy
(the Establishment Services)
Jarospace will also assist with facilitating the following at no additional cost to you:
Registration of your SMSF with Australian Tax Office (ATO); and
Rolling over your other superannuation funds into the SMSF’s bank account.
(the Facilitation Services)
Annual administration services, including but not limited to:
Annual compliance, administration and maintenance of the SMSF;
Annual financial statements and tax return for the Trustee;
Independent 3rd party audit
24/7 access to the Jarospace Platforms; and
Business hour access to Jarospace customer support
(the Administration Services).
Additional services provided by Jarospace’s Third-Party Providers, including but not limited to:
Audit and contractor services
Online share trading;
Online cash hub;
Online deposit hub;
Online property data;
Life insurance;
TPD insurance; and
Income protection insurance.
(Third-Party Services)
(collectively referred to the Services)
For the avoidance of doubt, the Establishment Services, Facilitation Services, Administration Services, Jarospace School and Third-Party Services shall collectively be referred to as the “Services”.
For you to be eligible to receive the Services, you must have accounts on the Jarospace Platforms and the Third-party Service Providers, and pay the fees as described below.
You acknowledge and agree that it is your responsibility to ensure that the Services are suitable for your intended purpose and use.
Consent
You agree to sign all documents and do all things necessary to facilitate the Services including, but not limited to:
completing all necessary documents, forms, and actions for the registration of the SMSF with the ATO and ASIC and organising and attending any required interview with the ATO, if and when requested (the ATO Registration); and
completing all necessary documents, forms, and actions to transfer your existing super funds to the Bank Accounts (the Rollover),
within a reasonable period of time after the completion of the Establishment Services but no more than 8 weeks after the incorporation of the Trustee.
(the Sign-up Activities)
To make the SMSF sign-up process as easy as possible for you, Jarospace will provide you with the ability to electronically sign documents. You authorise and consent to using Adobe Inc. (Adobe Sign) to electronically sign any document requested by Jarospace for the completion of the Services and all other documentation required for the maintenance and compliance of the SMSF. In using Adobe Sign, you accept the Adobe terms and conditions located at https://www.adobe.com/au/legal/terms.html
Administration Services
You consent and agree that Jarospace will facilitate the engagement of a third-party auditor (the Auditor). You consent to the engagement of the Auditor and you grant the Auditor electronic access to view all transactions made by your SMSF to fulfil the ATO requirement to have your SMSF audited each year, not later than 45 days before the lodgement of your SMSF annual financial return (Annual Compliance Obligations).
You consent and authorise Jarospace and the Auditor to complete and submit any and all the required documentation for the purposes of meeting the Annual Compliance Obligations on behalf of your SMSF.
Risks
It is important to fully understand that there are benefits and risks to consider when establishing an SMSF. A few are outlined below:
We do not provide financial advice or advice as to whether a SMSF is appropriate for your financial plans, circumstances, situation, or needs. Please speak with a professional financial adviser before deciding to establish a SMSF.
SMSFs are not eligible for compensation if they suffer loss as a result of fraud or theft.
SMSF members must resolve their own complaints or obtain their own legal assistance.
SMSF members cannot access the Superannuation Complaints Tribunal.
SMSFs are regulated by the ATO and require regular compliance, and you will be responsible for compliance and making sure you are able to keep up to date with changes in the laws and regulations.
SMSFs have costs to operate including but not limited to costs with respect to investing, accounting and auditing. These costs may have a significant impact on your retirement. Make sure that your SMSF will have a balance large enough to maintain its viability.
Industry super funds often offer discounted life and disability insurance. With a SMSF, you should consider purchasing your own insurance. Before terminating your existing super fund account, review your insurance and insurance options and the costs associated with obtaining your own insurance for the SMSF.
Fees
By Jarospace offering the Services to you, you agree and acknowledge that:
Unless otherwise stated, all amounts are listed in Australian Dollars (AUD) and are inclusive of GST; Jarospace can vary the Fees at any time by amending the relevant sections of the Website. You will be provided with an email notice 10 working days prior to the variation of the Fees. The variation of the Fees will come into effect following the conclusion of the month in which you are provided notice.
You agree to pay the following fees:
the establishment fees with respect to the Establishment Services specified on the Website or Jarospace documents (Establishment Fee);
the annual administration fees with respect to the Administration Services specified on the Website or Jarospace documents (Administration Fee);
ATO supervisory levy at the time Jarospace lodges the SMSF annual tax return. This levy is decided by the ATO and may vary at any time;
ASIC company return fees; and
all other money due and owing to Jarospace or any Third-Party Providers when it is due and payable including all costs, expenses, charges, disbursements, or any other fees.
(collectively referred to as the Fees)
Fees for Services are payable in advance on a monthly basis from the Bank Accounts of the fund once they have been established.
You must hold a minimum balance of $500 to ensure funds are available for payment processing an administration fee of $25 will be charged for each failed payment.
As director and officer of the Trustee of the SMSF, you acknowledge and understand that Jarospace only accepts advance payment of the Establishment Fee.
Non-Payment
You must complete all of the Sign-up Activities. If you do not satisfactorily complete all of the Sign-up Activities, there will be no refund of the Establishment Fee.
Jarospace may charge interest in the amount of 2% plus the Cash Rate Target set by the Reserve Bank of Australia (the Interest) on any amount which remains unpaid after seven (7) days from the due date specified on a tax invoice provided to you.
If you do not pay any of the Fees in accordance with the Terms, Jarospace will issue an overdue payment notice and you will be liable to make the payment immediately. In the event the amounts remain unpaid after seven (7) days from the date of the notice, Jarospace may proceed to recover the debt from you without further notice. If Jarospace initiates debt recovery action against you, you acknowledge and agree that you will be and remain liable for all debt collection costs which includes any legal costs (on an indemnity basis), collection agency costs and any other expenses or disbursements. You will also be liable to pay the Interest and administration fee of $110.00 on the outstanding debt and Jarospace may report you and the debt to a credit reporting agency.
Jarospace reserves the right to terminate or suspend your access to the Jarospace Platforms and to the Services in the event that you fail to pay any payment pursuant to the Terms.
Term
The minimum term for the Service is up to the end of the Financial Year (30 June) in which the SMSF was established or transitioned to Jarospace Super (the Minimum Term), upon completion of the Minimum Term, the Jarospace Service automatically renews at the start of the new Financial Year (01 July), for a further 12 month term. If you choose to terminate the Services or transfer the funds held in the Bank Accounts so that the Bank Accounts have insufficient funds to pay the Fees prior to the expiry of the Minimum Term or part way through the twelve (12) month renewal term, you will be personally liable for the entire Administration Fee until the expiry of the Minimum Term or renewal term less any monthly Administration Fees already paid (the Termination Fee). The Termination Fee is due and payable within seven (7) days form written demand by Jarospace.
Identify Verification
You acknowledge and agree that due to the nature of the Services, Jarospace may be required to verify your identity to ensure that you are not using the Services in an illegal or fraudulent manner.
You warrant that where Jarospace advises you in writing that they require further verification of your identity, then you will make all reasonable endeavours to comply with this request within two (2) days of receipt of such request.
You warrant that any information that you provide pursuant to this clause will be true and correct to the best of your knowledge and belief and failure to comply with this clause will warrant an immediate suspension or termination of the provision of the Services to you.
Copyright and Intellectual Property
The Jarospace Platforms, the Services, and all of the related products and services of Jarospace are subject to copyright (the Material). Unless otherwise indicated, all Material and rights (including copyright) in the content and compilation of the Jarospace Platforms (including but not limited to text, graphics, logos, button icons, video images, audio clips, Jarospace Platforms, code, scripts, design elements and interactive features) (the Content) are owned or controlled for these purposes, and are reserved by Jarospace or its contributors.
Jarospace retains all rights, title, and interest (including copyrights, patents and trademarks) in the Jarospace Platforms, Services, products, and all related Material content therein (Jarospace IP). Nothing you do will transfer any interest in the Material or Jarospace IP to you, other than the grant of the licence to you below.
Whilst using the Services, Jarospace grants you a worldwide, non-exclusive, royalty-free, revocable licence during the Term of the Services to:
download the Material and the Content;
use the Material and Content;
copy and store the Material and Content; and
print pages from the Jarospace Platforms for your own personal use, and for commercial use as required for the maintenance of your SMSF.
Jarospace does not grant you any other rights whatsoever in relation to the Material, Jarospace IP, or the Content. All other rights are expressly reserved by Jarospace.
You may not, without the prior written consent of Jarospace and the permission of any other relevant rights owner: broadcast, republish, upload to a third-party, transmit, post, distribute, show or display or publish in public, adapt or change in any way the Material or Content for any purpose, other than for the purposes expressly allowed by these Terms. This prohibition does not extend to the Material and Content which are freely available for re-use or are in the public domain.
Jarospace makes no guarantees, representations or warranties about the accuracy or legal correctness of any of the Material or Content or any other information on the Jarospace Platforms.
Third-Party Providers
Jarospace works with a number of partners and affiliates whose websites and services may be linked with the Jarospace Platforms or utilised in providing the Services and are controlled by parties other than Jarospace (each a Third-Party Provider).
Jarospace is not responsible and does not endorse or accept any responsibility for the availability, contents, products, services or use of any Third-Party Provider, any website accessed from a Third-Party Provider’s website or services, or any changes or updates to such websites or services.
Jarospace makes no guarantees about the content or quality of the products or services provided.
The Third-Party Providers may contact you by email or phone with instructions on how to access your benefits and to keep you informed of their services. You may be required to accept additional terms located on the Third-Party Providers’ website or services.
Certain services made available through the Jarospace Platforms may be delivered by Third-Party Providers. By using the Jarospace Platforms, you consent to Jarospace sharing information with Third-Party Providers to facilitate the provision of the Services.
General Disclaimer
Nothing in the Terms limits or excludes any guarantees, warranties, representations, or conditions implied or imposed by law, including any liability that may not be limited or excluded under the Australian Consumer Law, Australian Securities and Investments Commission Act 2001 (Cth) and the Corporations Act 2001 (Cth).
If you are not a Consumer (under the Australian Consumer Law), you agree that Jarospace has no direct or indirect liability (including in negligence) to you in any way related to your use of the Jarospace Platforms.
If you are a Consumer (under the Australian Consumer Law), Jarospace limits all its direct and indirect liability (including in negligence) to you to the Consumer Guarantees under the Australian Consumer Law.
Where there is a breach of the Consumer Guarantees, then to the maximum extent permitted by law, Squirrel’s liability to you is limited to the re-supply of the Services to you, less all associated costs, fees, disbursements, expenses, and third-party fees, paid by you over the previous 12 months from the date of you first making a complaint, inquiry, claim or demand regarding the Services, or alternatively, the payment of the above amount. Squirrel may at its absolute discretion determine to re-supply the Services to you, or pay the amount of the re-supply of the Services to you as mentioned above.
Subject to this clause and to the extent permitted by law:
Jarospace excludes all representations, warranties, or guarantees, whether express or implied, by statute, trade, or otherwise; and
Jarospace will not be liable for any claims, causes of action, damage or expenses arising out of or in connection with the Services or the Terms (including as a result of not being able to use the Services or the late supply of the Services), whether at common law, in equity, pursuant to statute, or otherwise.
Limitation of liability
Where permitted under the law, Jarospace’s total liability arising out of or in connection with the Jarospace Platforms, the Services or the Terms, however arising, including at law, in equity, under statute, or otherwise, will not exceed the amount in these Terms.
You expressly understand and agree that Jarospace will not be liable to you for any direct, indirect, incidental, special consequential or exemplary damages which may be incurred by you, however caused and under any theory of liability. This includes, but is not limited to, any loss of profit, any loss of goodwill or business reputation and any other intangible loss.
If the Services include financial modelling, being the development by Jarospace, or assistance to you in the development of a financial or other model for use by you in connection with the Services (Model):
you acknowledge, represent and warrant that:
any assumptions and input data used or to be used in operating the Model are solely your responsibility;
subject to the scope of Services, Jarospace’s role and liability is limited to assisting you to develop the Model based on any assumptions and input data as may be provided by you; and
Jarospace will not be held responsible or liable for the use to which the output data is put; and
you shall satisfy yourself that:
the Model is developed and constructed in such a way that it meets in all material respects your objectives;
the Model operates appropriately and effectively having regard to your purposes and requirements; and
you have supplied to Jarospace all comments and requests that you wish Jarospace to take into account in its financial modelling, and
you shall not hold Jarospace responsible or liable if these conditions are not met.
Indemnity
You agree to indemnify Jarospace from and against:
all actions, suits, claims, demands, liabilities, costs, expenses, loss and damage (including legal fees on a full indemnity basis) incurred, suffered or arising out of or in connection with the information provided by you;
any direct or indirect consequences of you accessing, using or transacting on the Jarospace Platforms or attempts to do so; or
any breach of the Terms.
This indemnity will survive termination of the Terms.
Termination of Services
You may terminate the Services at any time and for any reason with one (1) months’ notice after the expiry of the Minimum Term. Jarospace can terminate the Services to you at any time and for any reason by notifying you in writing. Any Fees already paid by you will not be refunded. If you terminate the Services, it is your responsible to also terminate the Third-Party Services.
Jarospace may at any time without notice, terminate, discontinue, suspend, or cancel, the Services or access to the Jarospace Platforms. Scenarios, without limitation, include if:
you have breached any provision of the Terms or intend to breach any provision;
Jarospace is required to do so by law;
Jarospace is transitioning to no longer providing the Services in the country or state in which you are resident or from which you use the service;
the provision of the Services to you by Jarospace is, in the opinion of Jarospace, no longer commercially viable;
you have used the Services:
in breach of any law;
in a way that is misleading or deceptive;
in a way which is unreasonable as determined by Jarospace at its absolute discretion; or
in a manner which can or does bring Jarospace into disrepute or could damage Jarospace’s reputation as determined by Jarospace at its absolute discretion.
Upon termination, all of the legal rights, obligations and liabilities that you and Jarospace have benefited from, been subject to (or which have accrued over time whilst the Terms have been in force) or which are expressed to continue indefinitely, shall be unaffected by this cessation, and the provisions of this clause shall continue to apply to such rights, obligations and liabilities indefinitely.
Governing Law and Jurisdiction
The Services offered by Jarospace are intended for residents of Australia. These Terms are governed by and are to be constructed in accordance with the laws of the State Victoria, Australia. You submit to the exclusive jurisdiction of the courts situated in Melbourne, Australia in respect of all matters arising out of or relating to these Terms or the Jarospace Platforms and their performance.
Notice
Information System means a system for generating, sending, receiving, storing or otherwise processing electronic communications.
Electronic Communication means:
a communication of information in the form of data, text or images by means of guided and/or unguided electromagnetic energy, which includes email correspondence and short text messaging services; or
a communication of information in the form of speech by means of guided and/or unguided electromagnetic energy, where the speech is processed at its destination by an automated voice recognition system.
The parties agree that:
any party can accept, vary, or amend these Terms in writing by way of Electronic Communication;
the time when the Electronic Communication enters the Information System is deemed as the time of receipt of Electronic Communication; and
once both parties have confirmed in writing, or in writing by way of Electronic Communication, the acceptance, variation or amendment of these Terms, that Electronic Communication is conclusively deemed as validly executed in writing by all the parties and is hereby binding and enforceable in accordance with the Electronic Transactions (Victoria) Act 2000 with respect to the establishment of the SMSF and the Electronic Transactions Act 1999 (Cth) for all other matters.
Jarospace may provide any notice to you under the Terms by sending a message to the email address provided by you, or SMS to the telephone number provided by you. The notice provided by Jarospace to you by email or SMS shall be deemed to have been properly given on the date Jarospace sends the email or SMS, regardless of whether you have received the email or SMS.
Unless specified otherwise, any notices provided by you to Jarospace must be in writing and be delivered either in person, or via registered post to:
Notices
Jarospace Operations Pty Ltd
C/O Creative Cubes
Level 5, 111 Cecil Street
South Melbourne VIC 3205
Notices provided by registered post shall be deemed to have properly given three days after they are posted (if posted).
Services Complaints
You may advise of any complaint or dissatisfaction with the Services or advice provided to you. The following dispute resolution procedure is in place to ensure that your enquiries and complaints are handled efficiently.
Contact Jarospace and advise us of your complaint. One of our member services team will attempt to resolve your complaint and will notify you of any outcome.
If your complaint is not resolved to your satisfaction, please send a written complaint addressed to:
The Compliance Manager
Jarospace Operations Pty Ltd
C/O Creative Cubes
Level 5, 111 Cecil Street
South Melbourne VIC 3205
Severance
If any part of the Terms is found to be void or unenforceable that part shall be severed, and the rest of the Terms shall remain in force.
Waiver
A waiver of any right, power or remedy under this Agreement must be in writing signed by the party granting it.
A waiver is only effective in relation to the particular obligation or breach in respect of which it is given. It is not to be taken as an implied waiver of any other obligation or breach or as an implied waiver of that obligation or breach in relation to any other occasion.
The fact that a party fails to do, or delays in doing, something the party is entitled to do under this Agreement does not amount to a waiver.
Assignment
Jarospace may assign or transfer its rights or obligations under the Terms without your consent.
You may not assign or transfer your rights or obligations under the Terms without prior written consent of Jarospace. A purported assignment without written consent will be deemed to be void and convey no rights.