During the year Mackenzie had employment income of $$40,000,$ property income of $$3,000,$ a business loss of $$22,000,$ an allowable business investment loss of $$5,000,$ income from an RRSP withdrawal of $$2,000,$ and a capital loss of $$40,000$ on the sale of shares in a public corporation. How much is Mackenzie's net income for tax purposes in accordance with Section $3$ of the Income Tax Act?