Billy Bob Sports is the registered name of a retail business carried on as a sole proprietorship in Ontario. All of its revenues and expenses take place in Ontario. There are no associated persons and the business files its GST return on an annual basis. Ontario has a 13% HST rate.

Billy Bob's Income Statement for the current year is as follows (all amounts are shown without HST):

Revenues:

Fully Taxable Goods $265,000

Exempt Services 73,000 $338,000

Less Expenses:

Cost of Goods Sold (All Taxable) ($140,000)

Amortization Expense ( 23,000)

Salaries & Wages ( 17,000)

Commercial Rent ( 18,000)

Interest Expense ( 50,000)

Other Expenses ( 21,000) ( 269,000)

Income before Income Tax $ 69,000

Less: Federal and Provincial Income Tax ( 14,000)

Accounting Net Income $ 55,000

Other Information:

1. Inventories of taxable goods increased by $13,000 during the year.

2. A capital expenditure was made during the year at an HST inclusive cost of $62,150. The expenditure was for equipment that will be used 60% for the provision of fully taxable goods. HST was paid on the purchase of all capital property on which amortization is being claimed in the year.

3. All of the "other expenses" are related to fully taxable supplies.

4. The commercial rent was not subject to HST as it was paid to a non-registrant. The proportion of the leased property that is used for the provision of exempt services is 20%.

5. Of the Salaries & Wages, 40% were paid to employees involved in providing exempt services.

Required: Calculate the HST payable or HST refund for Billy Bobs Sports for the current fiscal year using regular GST/HST calculations.