Cameron Tucker had the following receipts and disbursements in 2020:

1. Dividends from a public Canadian corporation - $9,000 (eligible dividends)

2. Dividends from US public corporations (net of $2,000 withholding taxes) $8,000

3. Cameron pays an investment advisor $500 in fees to help him make the best possible investment decisions.

4. Income from teaching high school who earns $48,000, before tax and deductions

5. Loss on sale of land $20,000

6. In June of 2019 Cameron purchased a debt instrument with a maturity value of $30,000 and pays interest at a rate of 5%. None of the interest is receivable until maturity in five years

7. Cameron borrowed $5,000 to invest in the stock market through his tax-free savings account. Interest on this loan amounted to $35 for the year.

8. Cameron bought a rental property for $300,000. $75,000 of the purchase price is allocated to land. During the year he earned rents of $5,000 and had the following rental expenses:

a. Utilities $ 900

b. Property tax $1,200

c. Advertising $ 250

d. Renovation $4,000

e. Mortgage interest $1,800

f. Property mgmt. fees $ 900

Required:

Determine Camerons net income from property for tax purposes.