Ok if my income is $100 and that is it for the year.
With Dividends and franking I would earn $100. $70 is Dividends $30 is Franking Credits on the tax return my total income declared is $100. At the moment I get back $30 because the income declared is under the tax free threshold. The $30 is pay as you go tax in case I earn over TFT. I don't earn $70 and get a $30 gift the total earned is $100.
If I decide to earn $100 as interest for the year instead of buying shares I declare $100 at tax time as well. I keep the whole $100 because income is below the tax free threshold.
