Question: If you start with the opening balance as of 30.6.2020 ( Income tax payable 2018 no income tax payable for 2019 and tax payable for 2020) and then complete the Tax Return does the franking account update over the year from the tax portal do do you do it manually? How can you reconcile/amend the Franking Account
Answer: Franking account has to be updated for the actual tax payments to ATO and not the Payable /estimated figure
2018 tax payment, for eg made in june 2019. So you have to update in 2019 year. Also, this has to be updated manually. It won't pick from tax return