Mr Abbott's approval rating has jumped nine points to 49 per cent, while Ms Gillard's has dropped five points to 45 per cent.
The primary vote shows the Coalition gaining four points to 47 per cent, the highest level it has been since just after the carbon tax was introduced in 2012.
Labor's primary vote dipped to 30 per cent, five points lower than the last survey in December and only four points higher than its lowest recorded level.
On a two-party preferred basis, the Coalition and now leads the Government 55-45.
The national poll of 1,400 voters found the gap between Ms Gillard and former prime minister Kevin Rudd has also grown, with Mr Rudd favoured by 61 per cent of respondents to just 35 per cent for her.
Mr Rudd has repeatedly rubbished suggestions that he is gearing up for another tilt at the leadership, telling those engaged in speculation to variously "take a cold shower" and "jump into an ice bath".