He owns two other rental properties. Rental #1 is a Class 1 building, which is rented to be used as a supermarket. Rental #2 is a vacant land, which is rented to be used as a parking lot. Rental revenue and allowable expenses (excluding capital cost allowance) from the two properties are as follows:

Rental #1 Rental #2

Gross rental revenue ...............................................................................................

............................................................................................... $30,000 $ 15,000

Expenses:

Mortgage interest ....................................................................................... (25,000)

Property taxes ....................................................................................... (3,000) (3,500)

Insurance ....................................................................................... (2,000) (2,400)

Maintenance ....................................................................................... (8,000) (1,500)

Rental #1 building has a capital cost of $400,000 and UCC on Jan 1st 2021 of $300,000.

Rental #2 land had an adjusted cost base of 500,000 on Jan 1 st 2021 and the land was sold in the end of December 2021 to the current tenant directly for a proceeds of $650,000 with no commission fees.

what is his income?