The budget proposals for superannuation could have a negative impact on votes for the government, with two thirds of the individuals holding more than $1 million in super traditionally voting for the coalition, according to research.
According to data from the Roy Morgan Single Source survey comprising 50,000 people, nearly two thirds (65.5 per cent) of voters holding more than $1 million in superannuation are coalition voters.
It also indicated that almost half or 46.8 per cent of the superannuants with $150,000 to less than $1 million are coalition voters.
“The proposed changes to superannuation in the budget have the potential to negatively impact these two groups, which together comprise more than one in three or 37.2 per cent L-NP voters with superannuation,” said Roy Morgan.
Roy Morgan Research industry communications director Norman Morris said the research shows that the government faces the risk of losing some coalition supporters who currently dominate not only the $1 million-plus group, but all super balances over $150,000.
"Although most publicity and detail has naturally centred on the proposed budget changes to superannuation, the ALP have indicated that they would tax income from super above $75,000 per annum, and it is uncertain what other changes are planned," said Mr Morris.
"With a long time to run before the election, both parties will need to come up with their final superannuation details in order for the voters to decide."
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