Sally is tired of paying income tax on the full amount of her employment and interest income, and she is attracted by the apparent favourable treatment of capital gains. However, she was surprised when her financial planner told her that investing in capital property has both advantages and disadvantages. Which of the following statements is FALSE?

a$)$ Sally will not be taxed on her capital appreciation until she disposes of the property.

b$)$ If Sally realizes a capital loss on personal$-$use property, such as a cottage$,$ she can only deduct that loss from capital gains realized on the disposition of other personal$-$use property.

c$)$ If Sally holds a property for a long period of time before disposing of it$,$ she may end up paying tax on inflation.

d$)$ Sally may realize a tax deferral by holding capital property.