Federal super tax hike could land NSW Labor in trouble at election

As NSW’s election nears, the shadow of their federal counterparts could loom large over state Labor with voters’ perception potentially affected by the feds’ super tax, research has revealed.

A federal government tax hike on superannuation balances could impact NSW voters’ perceptions of state Labor in a potential blow to Chris Minns’ election hopes.

According to research conducted for the NSW Liberal Party, seen by The Daily Telegraph, so-called “soft” voters in crucial marginal seats overwhelmingly agreed that “superannuation is my retirement savings not for the government to use”.

The research, from Liberal consultancy firm Crosby Textor, came from four focus groups in February, before Prime Minister Anthony Albanese announced details of a tax hike on super balances larger than $3 million.

Liberal sources said that while voters know the difference between federal and state issues, Mr Albanese’s broken promise on superannuation has raised the issue of financial security for millions of NSW residents.

Liberal strategists suggested that they could capitalise on Mr Albanese’s appearance in the state campaign to highlight to voters how federal Labor’s changes to superannuation could impact them in the future.

Prime Minister Anthony Albanese with Opposition Leader Peter Dutton during Question Time in the House of Representatives. Picture: Gary Ramage

Mr Albanese was front and centre of Labor’s campaign launch on Sunday.

Premier Dominic Perrottet has already attempted to link state Labor to the tax hike.

NSW Labor Leader, Chris Minns. Picture: Gaye Gerard

“There was the Prime Minister before the election, saying I won’t touch superannuation, and here we are four months later … and super changes are on the table,” Mr Perrottet said last week.

“Why does Labor do that? Because when they can’t manage their budget, they come after your money.”

Liberal strategists said they expect “financial fragility” will play a key role in the final 18 days of the campaign, including how inflation will hurt now and “eat away at (voters’) long term future”.

Finance Minister Katy Gallagher revealed on Monday that one in 10 Australians are expected to be impacted by the tax hike in 30 years.