October, 2007 

In NSW, the vendor duty was payable by the vendor for the transfer of land, or land related property, unless the transaction came within a small number of exceptions, for example your primary residence, substantially improved vacant land, substantially improved buildings or new buildings and land used for primary production. The rate of the duty was 2.25% and was applied to the whole amount of the value of the land and is payable before completion.

The New South Wales Government has abolished vendor duty on contracts for land related property that were entered into on or after 2 August 2005, and anti-avoidance provisions will be introduced to prevent persons avoiding vendor duty by cancelling contracts that were exchanged before 2 August 2005.
 
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