Support appears to be shrinking for changes to superannuation announced in the 2016 Budget, though support is still strongest amongst Coalition voters.
The most recent Essential poll asked the question:
Do you approve or disapprove of the changes to superannuation made in the Budget, which includes capping tax concessions for those with more than $1.6 million in superannuation?
A total of 47% approved, with 22% disapproving and 31% answering ‘don’t know’. The highest support came from people who vote Liberals/Nationals. This is despite indications that the Coalition could loose support over controversial measures, including the $1.6 million Transfer Balance Cap, $500,000 lifetime non-concessional contributions cap and changes to tax super funds on income relating to Transition to Retirement pensions.
Coalition voters showed the highest level of ‘approve’, at 43%. Though Greens voters had the highest level of ‘strongly approve’, at 24%. Coalition voters also showed the lowest level of ‘strongly disapprove’, at only 4%.
When an Essential poll asked the same question shortly after the 2016 Budget it found a higher level of support. At the time 62% approved, with 21% disapproval and 17% ‘don’t know’.
The majority of the decrease in support seems to come from a shift from ‘strongly approve’ to ‘don’t know’.
It is unclear if respondents were thinking of all the changes to superannuation in the 2016 Budget or focussing on the $1.6 million Transfer Balance Cap. The increase in ‘don’t know’ answers may suggest uncertainty about the details of the policies.