Thato Smit Has Provided You with the Following Information for 2020

Thato Smit has provided you with the following information for 2020:
That owns rental properties originally valued at $275,000.(Property 1: land $70,000, building $55,000) (Property 2: land $90,000, building $60,000)
The buildings are Class 1 (4%) properties.Net rental income before CCA in 2020 was $11,000.
$\bullet$ The UCC on building 1 at the beginning of 2020 was $50,000.
$\bullet$ The UCC on building 2 at the beginning of 2020 was $40,000.
$\bullet$ Property 2 was sold in 2020 for $250,000 (land $200,000, building $50,000)
Thato owns shares in ABC Inc.(a CCPC) valued at $50,000, and received $5,000 in non-eligible dividends on the shares in 2020.
Thato purchased a 5-year GIC two years ago for $30,000, and the interest earned in 2020 was $1,000.
Thato worked full-time as a baker in 2020, earning a gross salary of $45,000.
Thato is in a 45% tax bracket.
Required:
Calculate Thato's net income for tax purposes in 2020 in accordance with Section 3 of the Income Tax Act (exclusive of the enhanced CPP).Thato will take the maximum CCA allowed this year on the rental properties.

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