ALP leads, negative gearing splits voters

Australians aren't overwhelmingly buying Labor's $32 billion plan to trim back negative gearing despite voters putting the party ahead of the coalition, a new Ipsos poll shows.

The reform divided voters with 44 per cent against the policy to restrict tax deductions on investment properties while 43 per cent were in favour, the poll published by the Sydney Morning Herald on Sunday night shows.

Yet voters put Labor ahead of the coalition on two-party preferred terms - 54 to 46 per cent.

It comes as Labor's primary vote rose from 34 to 37 per cent over the past month while the coalition's dipped one per cent in the same period to 36 per cent.