LYU Tax and Business Services is a Public Practice offer tailored tax and accounting solutions in southeast region of Melbourne for Companies and Individuals, competitive rates and fast tax refunds in a pleasant and friendly professional environment.

Our Services

✓ Tax Return for Company, Trust, Partnership and SMSF
✓ Individual Tax Return
✓ Tax Planning
✓ Business Financial Reporting
✓ New Business Startup
✓ Bookkeeping

If you're running a business or self-employed, we understand the taxation laws and accounting issues you need to know about. We are committed to provide you tax effective services in affordable prices and help you in obtaining financial peace of mind. We provide a range of services including the preparation and review of your BAS and IAS returns through to advice on the application of the legislation in regard to specific circumstances to your business. You can ask us about:

• choosing the right business structure,
• applying for an ABN,
• registering for GST,
• paying contractors and employees,
• preparing BAS and IAS returns,
• setting up with the right accounting system for your type of business,
• improving the system that you're already maintaining,
• lodging Pay As You Go (PAYG) withholding annual reports,
• lodging Fringe Benefits Tax (FBT) return,
• keeping records and planning ahead for taxation.

As an accounting office for small business we have worked with various clients who all have different needs; from providing accounting basics and being their trusted tax accountant, to offering comprehensive services such as payroll management, accounts payable and accounts receivable assistance as well as personalized advisory services. An ongoing professional development program ensures us remains at the leading edge of changing taxation law.

Our accounting and compliance services include:

• Preparation of yearly financial statements
• Preparation of BAS/IAS
• Preparation of annual accounts for Individuals, Partnership, Trust, Company and SMSF
• Preparation of periodic management accounts
• Maintaining PAYG and GST records and associated returns
• PAYG and Superannuation Guarantee compliance
• Support using XERO, MYOB and other computing packages
• Acting on behalf of your business when dealing with ATO/ASIC and others.

• Accounts payable / Accounts receivable
• Payroll & Superannuation
• Bank and Credit Card Reconciliation
• Inventory control
• Fixed Asset Register management
• Insurance policy management
• Monitoring lenders’ ratio requirements to ensure compliance
• Monthly/quarterly bookkeeping
• GST/BAS compliance

In addition to supervising the above duties to ensure your accounts are managed by LYU Tax and Business Services in the most commercially efficient manner to maximise profits, reduce overheads and minimise tax, your dedicated MYOB, Quickbooks or Xero practicing accountant will also provide the following services:

• Initial audit of your existing systems
• Monthly/quarterly P&L analysis
• Budgeting and Cash Flow projections

• Decide on the most suitable structure for your business - sole trader, partnership, or limited company
• Prepare a business plan, cash-flow projections, budgets, and trading forecasts
• Apply for Tax File Number (TFN)
• Register for an Australian Business Number (ABN) with the ATO
• Register for PAYG
• Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
• Establish a good working relationship with your bank
• Complete registration procedures with Australian Securities and Investments Commission
• Deal with company secretarial issues
• Set up a recording system for your internal use and for complying with statutory requirements