Q.

I read that insurance bonds and super were the only vehicles that would not give taxable income. What about dividends from fully franked shares?

Franked dividends may be tax free in the hands of an investor who earns less than $80,000 a year, but they still give rise to taxable income. In fact the taxable income they create is larger than the actual dividend received because you need to include the franking credits in your income for that year as well as the dividend itself.