Shorten tax changes explained: Who it will affect

Thousands of investors could no longer receive cash refunds at tax time if Labor wins the election, with self-funded retirees likely to be some of the biggest losers.

Labor leader Bill Shorten will today announce plans to wind back Howard-era reforms allowing investors to claim tax imputations from dividends.

It could save about $11.4 billion over two years.

Paul Drum, head of tax policy of CPA Australia, told Ross and John who it will most affect.

“I think all retirees, but especially self-funded retirees,” he said.

Click PLAY to hear him break down the policy for Ross and John