Learn about 'retiree tax' at Liberal Party forum in Murray Bridge with MP Tony Pasin

Photo: File.
Photo: File.

Retirees interested in the effect a Labor election win would have on their retirement income are invited to a forum with Liberal MP Tony Pasin at Murray Bridge RSL from 10-11.30am on Wednesday.

Under a policy proposed by Labor, shareholders would still be able to claim a deduction for the tax paid on dividends of the shares they own; but would no longer be able to receive a cash refund if they did not pay tax on their income.

Pensioners would be exempt from the changes.

Mr Pasin described the policy as a "tax on retirement savings", and said it would leave 7000 people in his electorate of Barker worse off.

Labor said the government's current policy cost taxpayers $8 billion per year, and that 80 per cent of its benefits went to the wealthiest 20pc of retirees.