Lordel,
that is almost correct. I used $150,000 but you are correct that the figure is $142K = (100 / 0.7).
The final thing you need to account for is the Medicare Levy @ 1.5% of $142K which is $2142. This further reduces your refund cheque.
However, it is very unusual that someone's only source of income for a year would be a $100K fully franked dividend.
A decent accountant should also be advising you on structures. Family Trusts can channel the dividend to multiple taxpayers for example. SMSF's are also very useful for people nearing 55 years of age.
Joel
the longer you wait rio the more it will cost, page-24
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