Labor has a two-party preferred lead of four percentage points over the coalition whose primary vote has dipped below 40 per cent for the first time under Malcolm Turnbull's leadership, the latest Newspoll shows.
That's lower than where Tony Abbott was when he was dumped as leader a year ago, the poll for The Australian shows.
It reveals Labor has a two-party-preferred lead of 52 per cent to the coalition's 48 per cent -- the opposition's biggest lead since Mr Turnbull took power.
Mr Turnbull remains the preferred prime minister over Bill Shorten, but less than a third of voters are satisfied with his performance and more than a half are dissatisfied.
The poll shows the coalition's primary vote has fallen three points in the past fortnight to 38 per cent and is down four points since the election 12 weeks ago.
In the final Newspoll under Mr Abbott's leadership in September last year, the Coalition's primary vote was 39 per cent.
Primary support for Labor has risen one point in the past fortnight to 37 per cent, while the Greens have gained one point to 10 per cent and other parties and independents have climbed a combined one point to 15 per cent.