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Welcome to FS and to Australia. :)

Congrats on taking the initiative and getting your ABN already. Our financial tax year is from July to June. So you have just begun a new financial year.

I would encourage you to read the thread that Jodie has suggested. It would be good to talk to someone at the ATO – I have found that they are very helpful.

Accounting software will make keeping records much easier for you – and the sooner you start, the better. There are also a few cloud based ones that some of the members here use like Xero http://www.xero.com/ which would be good for you or Nominal http://www.nominal.com.au/ – or more elaborate needs MYOB http://www.myob.com.au/ (more expensive) – both online or offline versions for PC or Mac. There are others as well.

The best advice is to start of properly from the beginning so that tax time will not be a headache.

All the best with your business.
– Karen C.