H, I thought the way franking credits worked was once you were paying over 30% MTR, then franking credits actually make you pay tax.
e.g. if you receive:
$180,000 in dividends (all franked)
it is grossed up to $255,600, then tax payable is $92,401 less franking credit return of $75,600, therefore $16,801 tax payable.
compared to having these dividends in pension phase in super where the tax is 0%, you would actually receive a $75,600 tax refund.
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