It means that the Franking credits are part of my income, not a gift as you think. The Franking Credit part is taken as tax assuming that I am earning an income above the Tax Free Threshold. It is given back because of being under the Tax Free Threshold.
Dividends and Franking Credits are added together that is what my income is. Then tax is worked out from there.
My Income is not just the Dividend part that I am paid upfront.
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