the longer you wait rio the more it will cost, page-25

LE, You're very close I think.

You are correct the company earned $142,857, paid 30% tax and passed on $100,000 to you as a dividend. You get $100k plus a franking credit of $42,857.

Your taxable income is your dividend plus your franking credit, so you are taxed on $142,857. This is easy to work out on the tax tables, from http://www.ato.gov.au/youth/content.asp?doc=/Content/40811.htm this is $18,000 plus 40% for every $ over $80,000. So you rtax is:

$18,000 + 0.4 x (142,857 - 80,000) = $43,142.80.

BUT, you subtract once again your franking credit. The tax you have to pay is:

$43,142.80 - $42,857 = $285.80

Have to board a flight - sorry to be quick. Hope this helps. BB