Got another nooby question to do with dividends :P
I have held onto two stocks ($10,000 amounts each) for only a week (under the 45 day period required), however the dividend amount is only $350 (50% franked) and $120(100% franked), which I assume makes me eligible for getting the franking credits back.
As a student I'm currently working part time, placing me in the second tax bracket (15% for ever dollar earned above 6000).
So I guess my question is, am I correct in assuming that I am eligible for the franking credits, and will I get more money back because my tax rate is only 15% compared with companies 30% rate.
Sorry if this seems incredibly basic, just trying to get my head around the whole thing.
Thanks a bunch