That is definitely one of the advantages of companies over trusts. The ability to drip feed out a fully franked dividend when it suits is a handy card to have up your sleeve. The sole shareholder of my company is a trust though, it allows me the benefits you described but with the ability to pay out dividends to members of my family on lower tax rates than myself. Point noted about accounting fees, as discussed above the cost-benefit all depends how much tax you may be able to save.
