Me too,
and $5000 in franking credits, coincidentally, is also the cut-off for the ATO's "45 day holding rule" so there may be a spark/skerrick of truth to the rumour.
I believe if you exceed $5000 in total franking credits in a year you have to hold each parcel of dividend paying shares 'at risk' for 45 days [on one occasion only per parcel] excluding the date of purchase and the sell date. But I cannot recall how it fits in with the record date or dividend pay date.
I do know that one can have $11,666.66 in fully franked dividends before one exceeds the $5000 franking credit cap, thus requiring the holder to comply with the 45 day rule or forego the attached franking credits.
Plus one can have as many unfranked dividends above the $5000 as you like but obviously if you're a retiree you don't want to pay heaps of income tax nor wish to exceed $18,200 threshold or picastoc's $21000 by too much and get into the 32c in $ tax bracket at above $37,000 income.
