Coming back with a vengeance!, page-33

khannn,

Correct you are. i have higher entry price on Bendigo. In regards to franking credits these are one of the prime reasons i am so pro banks. Theoretically if you have enough bank shares you can completely offset any tax!!!

The whole reason franking credits were introduced was because it was unfair on the average shareholder to pay tax twice on profits made. (The yank haven't even adopted this system by the way.)

So now when you receive a dividend from a bank you have to understand you a receiving much much more. Franking credits can represent 30% of a dividend which are used to offset against other tax obligations.

This is why the relatives are so filthy stinking rich by the way.

fergl