Essential Report

Tax reforms to reduce debt from Covid-19

Apr 28, 2020

Q. To what extent do you support or oppose the following suggested tax reforms to help reduce any debt Australia may have, as a result of the Covid-19 stimulus packages?

  NET: Support NET: Oppose Strongly support Somewhat support Neither support nor oppose Somewhat oppose Strongly oppose
Prevent companies who are registered in offshore tax havens (such as Switzerland) from accessing Covid-19 government support 64% 9% 43% 20% 20% 5% 4%
Simplify the taxation system to a flat tax rate 43% 18% 16% 27% 27% 10% 8%
Removal of franking credits 32% 16% 15% 17% 27% 10% 16%
Removal of negative gearing 32% 25% 14% 19% 30% 12% 13%
Implement a tax on the value of property or money passed on when someone dies 18% 49% 5% 12% 22% 16% 33%

 

NET: Support   Gender Age Group
Total Male Female 18-34 35-54 55+
Prevent companies who are registered in offshore tax havens (such as Switzerland) from accessing Covid-19 government support 64% 66% 61% 48% 61% 80%
Simplify the taxation system to a flat tax rate 43% 48% 38% 40% 39% 48%
Removal of franking credits 32% 36% 28% 36% 32% 28%
Removal of negative gearing 32% 36% 22% 34% 32% 32%
Implement a tax on the value of property or money passed on when someone dies 18% 23% 13% 27% 17% 10%
Base (n) 1,054 526 528 343 332 379
  • Participants most support preventing companies who are registered in offshore tax havens from accessing Covid-19 government support (64%) and are least supportive of implementing an inheritance tax (18%) to reduce any debt as a result of the Covid-19 stimulus.
  • Those aged over 55 are most likely to oppose removal of franking credits (39%), negative gearing (33%) and inheritance tax (63%), however they are most likely to support preventing companies registered in offshore tax havens from accessing Covid-19 government support, (80%).

Institutions which consider public safety

Apr 28, 2020

Q. With regards to the impact of the Covid-19 outbreak, to what extent do you think the following institutions consider the safety of the public when making business decisions?

  Will always act in their own interests, even if it endangers people or is detrimental to the public Will act in their own interests as long as it does not endanger people or is detrimental to the public Will prioritise the safety of the people and the public’s best interests Unsure
Cruise line companies 41% 29% 13% 17%
The big four banks 33% 39% 14% 14%
Insurance companies 32% 38% 13% 17%
Real estate agencies 29% 38% 16% 17%
Sporting administrators 26% 37% 21% 16%
Pharmaceutical companies 18% 38% 31% 14%
Small banks (excluding CBA, NAB, ANZ and Westpac) 17% 48% 20% 15%
Super funds 17% 40% 23% 20%
Supermarkets 15% 38% 36% 11%
Aged care facilities 14% 32% 39% 14%
  • 41% of participants believe that cruise line companies will always act in their own interests, even if it endangers people or is detrimental to the public; while only 14% say the same is true for aged care facilities.
  • 48% of participants believe that small banks (excluding CBA, NAB, ANZ and Westpac) will act in their own interests as long as it does not endanger people or is detrimental to the public – compared to 39% saying the same for the big four banks.

Coronavirus concerns

Apr 21, 2020

Q. To what extent are you concerned about the threat of Covid-19 (coronavirus) in Australia?

  20/04 13/04 06/04 29/03 22/03 09/03 10/02
Very concerned 44% 45% 51% 53% 39% 27% 25%
Quite concerned 43% 43% 37% 35% 43% 36% 43%
Not that concerned 11% 9% 10% 10% 14% 28% 26%
Not at all concerned 2% 3% 2% 3% 4% 9% 6%
Base (n) 1,051 1,068 1,069 1,086 1,034 1,096 1,057

 

    Age group Location
  Total 18-34 35-54 55+ Capital Non-Capital
Very concerned 44% 48% 45% 39% 46% 40%
Quite concerned 43% 40% 44% 46% 42% 45%
Not that concerned 11% 11% 9% 14% 10% 14%
Not at all concerned 2% 2% 2% 2% 2% 2%
Base (n) 1,051 341 325 385 722 329
  • Concern about the threat of Covid-19 has stayed steady falling the softening last week. 44% are very concerned about the outbreak (45% last week) with a further 43% who are quite concerned (43% last week).
  • Concern has fallen for the second week among over 55 year olds. The proportion saying they are very concerned has decreased from 54% to 39% over the past two weeks.

Specific covid-19 concerns

Apr 21, 2020

Q. To what extent are you concerned about these possible impacts of the Covid-19?

NET: CONCERNED (VERY/SOMEWHAT) 20/04 13/04
The Australian economy as a whole 87% 85%
General unemployment if companies are forced out of business 83% 79%
The physical health of close family members 74% 73%
The impact on my superannuation, savings or investments 67% 63%
My close family members’ mental health 64% 61%
My physical health and catching the virus 64% 62%
My economic situation if I lose my job or have less work 59% 58%
My ability to buy food and essential items if stores run out 58% 58%
Children’s development by missing out on school 56% 52%
My mental health as a result of social distancing 50% 47%
Base (n) 1,051 1,068
  • Economic issues are seen as most concerning when thinking about the consequences of the Covid-19 crisis. 87% say they are concerned (very/somewhat) about the economy as a whole and 83% are concerned about general unemployment.
  • Those aged 18-34 were more likely than other age groups to be concerned about the impact on their mental health (67% to 43%), and that of their families (74% to 601%).
  • Concern for children is highest among those in households with dependent children (62% are very or somewhat concerned).

Likelihood of developing Coronavirus

Apr 21, 2020

Q. How likely do you think it is, that you will develop Covid-19?

  20/04 13/04 06/04 29/03 22/03 09/03
Very likely 7% 5% 8% 8% 8% 7%
Somewhat likely 25% 28% 33% 36% 34% 24%
Somewhat unlikely 52% 49% 45% 45% 45% 43%
Very unlikely 17% 18% 14% 12% 13% 26%
Base (n) 1,051 1,068 1,069 1,086 1,034 1,096

 

    Age group Location
  Total 18-34 35-54 55+ Capital Non-Capital
Very likely 5% 12% 6% 2% 8% 3%
Somewhat likely 28% 29% 30% 17% 27% 22%
Somewhat unlikely 49% 43% 48% 63% 50% 55%
Very unlikely 18% 17% 16% 18% 15% 19%
Base (n) 1,051 341 325 385 722 329
  • Overall, the threat of catching Covid-19 is in line with results from last week.
  • There has been an increase among 18-34 year olds in likelihood to catch, with 12% thinking they are very likely to catch Covid-19 (up from 8% last week).

Economic expectations

Apr 21, 2020

Q. Which of the following is closer to your expectations of what will happen to the economy following the Covid-19 situation?

  20/04 13/04 06/04
The economy will rebound within 2-3 months and grow just as strong or stronger than before Covid-19 11% 12% 11%
The economy will be impacted for 6-12 months or longer and will stagnate or show slow growth thereafter 47% 49% 51%
Covid-19 will have long lasting impact on the economy and the country will fall into a lengthy recession 30% 27% 29%
Unsure 11% 11% 9%
Base (n) 1,051 1,068 1,069

 

    Gender Age Group
Total Male Female 18-34 35-54 55+
The economy will rebound within 2-3 months and grow just as strong or stronger than before Covid-19 11% 14% 9% 17% 9% 9%
The economy will be impacted for 6-12 months or longer and will stagnate or show slow growth thereafter 47% 45% 48% 48% 45% 47%
Covid-19 will have long lasting impact on the economy and the country will fall into a lengthy recession 30% 30% 31% 22% 34% 35%
Unsure 11% 12% 11% 13% 12% 10%
Base (n) 1,051 525 526 341 325 385
  • Economic expectations are similar to last week, with just under half of people (47%) thinking Covid-19 will impact the economy for up to a year, with slow growth following.

Government response to Covid-19

Apr 21, 2020

Q. Overall, how would you rate the Government’s response to the Covid-19 outbreak?

  20/04 13/04 06/04 29/03 22/03
Very poor 5% 6% 6% 11% 9%
Quite poor 10% 12% 15% 21% 20%
Neither good, nor poor 21% 20% 21% 24% 26%
Quite good 42% 40% 37% 34% 33%
Very good 23% 23% 21% 11% 12%
NET: Poor 15% 17% 21% 31% 29%
NET: Good 65% 63% 58% 45% 45%
Base (n) 1,051 1,068 1,069 1,086 1,034

 

  Gender Age Group Location
  Total Male Female 18-34 35-54 55+ Capital Non-Capital
Very poor 5% 7% 2% 6% 5% 3% 5% 5%
Quite poor 10% 11% 9% 17% 8% 6% 11% 8%
Neither good, nor poor 21% 19% 22% 25% 24% 13% 20% 22%
Quite good 42% 40% 43% 38% 43% 43% 42% 40%
Very good 23% 23% 23% 13% 20% 35% 22% 25%
NET: Poor 15% 18% 12% 23% 13% 9% 16% 13%
NET: Good 65% 63% 67% 51% 63% 78% 65% 65%
Base (n) 1,051 525 526 341 325 385 722 329
  • The perception that the Government remains high, with 65% now thinking the Government has done a good job (Very/somewhat) in handling the crisis.

State Government response to Covid-19

Apr 21, 2020

Q. How would you rate your state government’s response to the Covid-19 outbreak?

  20/04 13/04
Very poor 5% 5%
Quite poor 9% 11%
Neither good, nor poor 20% 20%
Quite good 39% 38%
Very good 26% 23%
NET: Poor 14% 17%
NET: Good 66% 63%
Base (n) 1,051 1,068

 

    State
  Total NSW VIC QLD SA WA  
Very poor 5% 5% 6% 3% 3% 4%  
Quite poor 9% 12% 5% 11% 8% 7%  
Neither good, nor poor 20% 21% 20% 23% 23% 12%  
Quite good 39% 37% 38% 47% 43% 34%  
Very good 26% 24% 32% 16% 23% 43%  
NET: Poor 14% 17% 11% 14% 11% 11%  
NET: Good 66% 61% 69% 63% 66% 77%  
Base (n) 1,051 322 275 216 88 106  
  • Nationally, the perception of state governments’ handling of the crisis in in line with government, with 66% rating their own state’s handling as Very/Quite good (compared to 65%).
  • In the past week the rating in Queensland has increased from 52% to 63%, while Victoria has fallen from 76% to 69%. Western Australia and Victoria remain the states with the highest rating.

COVID-19 RESEARCH

Read Essential's ongoing research on the public response to Covid-19.

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