Hi john,
As helloU points out to us, not that simple, the " seniors and pensioners tax offset " may also apply if you are over 65.5.
But keeping it simple, if you received ff dividends of 21k, this would mean an income of 28k( 21+7 franking credits) . Tax of 19c on 18.2k to 28k, about 1850 tax payable. Refund: 5150.
From memory the seniors tax offset is about 10k, if that applies, whole 7k refunded.
