[Verse 1]
When CRA comes knocking at your door
Three types of reviews you should know for sure
Desk audit stays at their office space
Reviewing papers at their own pace
Field audit means they'll visit you
At home or work to see what's true
Special audit's the serious kind
For complex cases they need to find
[Chorus]
Three four years normal time
Seven years if you don't file on time
No limit when there's fraud in sight
CRA's got audit rights
Desk field special know them well
Late filing gross negligence penalties tell
Section one six three point two
Third party penalties coming for you
[Verse 2]
CRA has powers you must respect
Examine records they can inspect
Books and documents you must provide
Cooperation you can't hide
They can require you to attend
Answer questions till the end
But know your rights within the law
Professional help without a flaw
[Chorus]
Three four years normal time
Seven years if you don't file on time
No limit when there's fraud in sight
CRA's got audit rights
Desk field special know them well
Late filing gross negligence penalties tell
Section one six three point two
Third party penalties coming for you
[Bridge]
Net worth assessment when records are poor
They'll calculate what you had before
Compare your assets year to year
Unexplained increases will appear
Five percent late filing fee
Twenty-five percent minimum you'll see
For gross negligence under the code
Third parties share the penalty load
[Verse 3]
Normal reassessment periods run
Three years personal when tax year's done
Four years for corporations in the game
Extended periods shift the blame
Seven years when returns are late
No time limit for fraudulent fate
Misrepresentation keeps doors wide
Statute limitations put aside
[Chorus]
Three four years normal time
Seven years if you don't file on time
No limit when there's fraud in sight
CRA's got audit rights
Desk field special know them well
Late filing gross negligence penalties tell
Section one six three point two
Third party penalties coming for you
[Outro]
Know your obligations play your part
Keep good records right from the start
CRA audits are serious business true
But knowledge helps to see you through