12. Jennifer Nash is a plumber in Waterloo, Ontario, who spends all of her weekends and holidays operating a farm she purchased this year. She is confident that within two years her farm will be making a profit. In the current year, the farm had a loss of $18,000. In the current year, she can deduct a maximum of $2,500 of the farm loss against other income. True or False? 13. Any loss that is not deductible in the current year can be carried forward for a maximum of seven years. True or False? 14. Any loss that is not deductible in the current year can only be applied to the extent of farm income in the carry over year. True or False? 15. Martin is worried about how much tax he will have to pay this year and he is looking for anything that he might have missed that will decrease his Taxable income. All of the following could decrease his Taxable income, with the exception of: i. a deduction for contributions to an RPP. ii. application of a net capital loss carryforward. iii. application of a non-capital loss carryforward. iv. a credit for a charitable donation