CGT on vacant land (old indexation vs new regime)

My parents have some land in QLD they purchased in 1990. They have never built on the property however they did intend on building their dream home on it. If they were to sell this land would they have a choice of CGT (indexation or current day method 50% discount for holding more than 12months?)

 

yes

 

However the use of indexation means it would provide a lesser benefit vs the 50% method. It why nobody asks this question any more. Indexation was frozen on 30 September 1999.

One of the most overlooked (and lost benefits) can be 3rd element cgt costs if this was vacant land. eg Rates, land tax costs incurred but never claimed as a deduction since acquistion. Indexation will only apply to some and not all of these