Bill Shorten is facing a backlash from older Australians to his $59 billion revenue grab on dividend payments amid warnings that his plan would force retirees to sell their assets faster and fall back on the Age Pension.
The Canberra Times reports, as the government accused Mr Shorten of “stealing” tax refunds from pensioners, groups including National Seniors Australia and super fund owners called on Labor to shelve the plan. Australian Conservatives leader Cory Bernardi says the policy is a dud.
The South Australian Senator has told Sky News Labor's tax grab will do immeasurable damage to the retirement savings - and to Labor's usual ally, union-backed 'industry super'.
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