With respect to the calculation of net income $($ITA $3),$ which of the following statements is NOT correct?

Business losses can be netted against employment income in determining the positive amounts to be included under ITA $3($a$)$ and $3($b$).$

Allowable capital losses for the year can only be deducted to the extent of taxable capital gains for the year.

Subdivision e deductions are subtracted from the total of all positive sources of income.

Property losses can only be deducted after the subtraction of Subdivision e deductions.