[Verse 1]
Start with accounting income from the books you keep
Add back permanent differences running deep
Depreciation out, CCA comes in
Timing differences where tax rules begin
Half-year rule cuts your first year rate
Unless accelerated incentive breaks the gate
[Chorus]
Corporate tax is all about the flow
Active business versus passive income you should know
Small business deduction keeps the rate down low
Integration makes the tax burden equal though
RDTOH gives refunds when dividends are paid
Corporate taxation rules are how the game is played
[Verse 2]
Active business income gets the preferred rate
Small business deduction, four hundred K can't wait
Associated corporations share the limit tight
Business limit grind reduces what's in sight
General rate reduction brings the rate down more
Integration theory levels out the score
[Chorus]
Corporate tax is all about the flow
Active business versus passive income you should know
Small business deduction keeps the rate down low
Integration makes the tax burden equal though
RDTOH gives refunds when dividends are paid
Corporate taxation rules are how the game is played
[Verse 3]
Investment income pays the highest rate
Refundable tax helps dividends relate
Part IV tax on connected corporation gains
RDTOH account tracks all refundable chains
Shareholder benefits add to income clear
Shareholder loans create imputed interest here
[Bridge]
When control changes hands the rules get strict
Deemed year-end and losses face restrict
Write-downs to fair value, streaming rules apply
Section eighty-five lets assets roll on by
Eighty-six exchanges, eighty-seven blends
Eighty-eight wind-ups where the story ends
[Chorus]
Corporate tax is all about the flow
Active business versus passive income you should know
Small business deduction keeps the rate down low
Integration makes the tax burden equal though
RDTOH gives refunds when dividends are paid
Corporate taxation rules are how the game is played
[Outro]
Losses carry forward twenty years ahead
Three years back to recover what you've paid
Corporate tax complexity but logic's in the thread
Integration principle keeps everyone's tax fair and balanced