Labor has attacked the Opposition's multi-billion-dollar paid parental leave policy as a "huge hit" to "every single worker" through their superannuation schemes.
The policy will be partly funded by a 1.5 per cent levy on big business which the Shareholders Association agrees will hurt investors because they will not be able to claim a franking credit on the tax hike.
Franking credits are a tax break given to investors on tax already paid by a company, to ensure profits are not taxed twice.
Treasurer Chris Bowen says the scheme is "Tony Abbott's giant raid on Australia's investors to pay for his unravelling signature policy".
