Ann: June 2021 Investment Update, page-34

Excellent, getting a bit more self aware I see because you are indeed a hamster running on a wheel.

You refuse to even answer a simple question that will show that you understand how dividends are taxed in the hands of the taxpayer.

Probably because you don't do your own tax, the accountant does it for you.
If you don't understand how tax assessments are done you won't understand my opening statement and why franked dividends are irrelevant from a taxpayer perspective...only the gross dividend yield and personal effective tax rate matters.

There is no theory here... only facts and reality.

To take a practical example we will take average Joe who earns $80K

https://paycalculator.com.au/ will give you a very accurate idea of the tax payable on 80K
Marginal tax rate at this income level is 32.5%.( excluding medicare )
Tax amount payable on this amount is $16,987.00 ( includes medicare )
That is an effective tax rate of 21.23%

Apply that to the question you refuse to answer.

1. unfranked - company X pays you a $100 dividend.
after tax assessment, how much do you have in your pocket?

Amount included as taxable income in your tax assessment is $100.
Joe has no tax credits.

He already has the $100 dividend paid to him in his account.
Tax payable on the $100 dividend is ~$21.23 payable to the ATO
You are left with ~$78.76.

2. franked - company Y pays you a $100 dividend ( $70 on payment date, $30 credit with ato).
after tax assessment, how much do you have in your pocket?

Amount included as taxable income in your tax assessment is $100
Joe has $30 in tax credits.

He already has the $70 paid to him from the company in his account.
The payable tax is calculated on the grossed up $100 and is ~$21.23
Since he alread has tax withheld of $30..... $30-~$21.23.
He gets a $8.77 refund and thinks it is the greatist thing since sliced bread.
$70 + $8.77 = $78.76
You are left with ~$78.76

Exactly the same amount.
Get off the wheel and show anything above that is factually incorrect.