Labor's proposal for dividend imputation does not just hit wealthy retirees with their own funds. :
Labor’s change to dividend imputation will cost the wealthiest retirees the most and reduce returns of all super funds members who are retired, but have little impact on the returns of super fund members who are working. It could also make the shares of those big dividend-paying companies less attractive to those with self-managed super funds, but whether that would cause share prices to fall, as argued by some, is doubtful.