The current tax system provides a tax credit for the Australian company tax paid on profits which are then passed through to investors along with the dividends.  If your tax rate is less than 30% (ie you are retired and do not pay tax) then this credit is refunded to you by the ATO.

Labor proposes to stop this practice except for those people who are on social welfare benefits which means that self-funded retirees will the ones to feel the pinch.

Peter Switzer in “The Experts” report of 27 September 2018 entitled “Sorry kids, Bill [Shorten] wants to wipe out your inheritance” argues that the younger generation should be concerned about this as well.