Question a.

Nisha Patel has a full time job as a nurse in her local hospital. In her spare time she has a goat farming operation. The goat farm began in 2016, and resulted in a loss of $10,000. She deducted the maximum allowable amount of the loss against her 2016 income. In 2017, most of the problems had been worked out, and Nisha had a profit from the farm operation of $5,000, as well as employment income of $100,000. Determine Ms. Patel's taxable income for 2017.

	$101,250
	$100,000
	$95,000
	$105,000

Question b.

Which of the following statements about Allowable Business Investment Losses is correct?

	If they are not used during the current year, they are added to the net capital loss balance.
	If they are not used during the current year, they are added to the non-capital loss balance.
	They can only be deducted against business income.
	They are losses that result from the disposition of shares or debt in a Canadian controlled public corporation.

Question c.

When an individual makes a gift of publicly traded securities to a registered charity, any capital gain that results from the disposition is deemed to be nil.

	True
	False