Joseph Delvechio runs a dress repair business in Surrey, B$.$C$.$ as a sole$-$proprietorship $($i$.$e$.$ it is his own unincorporated business$).$ He has provided you with the following information for the year $(2021)$:

He is single and doesn$$t have any children.

He contributed $$4,000$ to his RRSP in the year, the entire amount is deductible.

He received cheques for a $$500$ capital dividend and a $$600$ non$-$eligible dividend in the year.

He has a non$-$capital loss of $$8,000$ available for carryover from $2017$ and a net capital loss of $$3,000$ available for carryover from $2019.$

Joseph prepares his financial statements in accordance with GAAP. His net income for accounting purposes was $$62,000$ in $2021$ and included the following $($provide clear ITA citations for each of these items$)$:

$$1,000$ accounting loss on the sale of an industrial sewing machine

$$2,500$ amortization

Other items related to his business

$$600$ in landscaping costs were capitalized to the Balance Sheet during the year under GAAP.

$$2,500$ in Capital Cost Allowance $($CCA$)$ is available

There was an $$800$ Terminal Loss on the sale of an asset

During the year Joseph sold the following personal assets as he needed some extra cash to fund his business:

A collection of rare books about the history of dress repair. The collection originally cost him $$800($in $2015)$ and he was able to sell it for $$1300$ in $2021.$

A large collection of hockey cards he purchased in $2016$ for $$1,100.$ He was able to sell the collection for $$900$ in $2021.$

During the year, Joseph made $4$ federal tax installments totalling $$5,200$ consistent with the no$-$calc method. He intends to file his return tomorrow $($September $1,2022)$ and needs to know how much he needs to pay CRA $($or how much of a refund he is going to get$).$ He has never filed late before.

Please calculate Joseph$$s net tax payable $($including any penalties and interest$)$ for $2021.$ Make sure to clearly show your work $($use S$3$ format$),$ explain$/$support relevant amounts and assumptions where necessary $($including items you have excluded from the calculation$)$ and show year$-$end carryover balances.