Dividend stripping is not a good idea with FOR.
It's a LIT not a LIC. So very little franking credit attached to the dividend.
And your tax bill will include more than the dividend you receive:
As per the distribution policy announced on 26 November 2021, the ordinary distributions and the special distributions for this financial year will ensure that at least 50% of the taxable income of the Fund is paid to investors in cash or will be reinvested if you elect into the DRP. The remaining taxable income will not be distributed, but will still be taxable for investors and will be treated as an increase in the cost base of the investment. Most of the 2021 financial year’s distributable income will be discounted capital gains.
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- Ann: Indicative Distribution FY22 Cover Letter
Ann: Indicative Distribution FY22 Cover Letter, page-11
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