The ALP’s proposed removal of refunds for dividend imputation credits has been widely criticised for its potentially devastating impact on low-income retirees.
Under the plan announced by Opposition Leader Bill Shorten on Tuesday, imputation credits would no longer be refundable. He has since promised a Labor Government would compensate up to 250,000 pensioners for every dollar they would lose.
Mr Shorten said wealthy retirees with Self-Managed Super Funds (SMSFs) would be most affected by the change.
National Seniors has crunched some numbers for those who would be...