[Verse 1]
If you're a resident of Canada today
Every dollar you earn, no matter where you stay
From Tokyo profits to London gains
Worldwide taxation runs through your veins
The maple leaf follows you everywhere
Global income, you must declare
[Chorus]
Residents worldwide, non-residents source
FAPI and dumping, stay on course
Part thirteen withholding, thirty percent rate
Controlled foreign affiliates, don't be late
Remember the rules, keep them in mind
Canada's tax net is globally designed
[Verse 2]
But if you're visiting from another land
Only Canadian source income, we'll take from your hand
Investment income flowing out the door
Part thirteen withholding, that's what it's for
Thirty percent on dividends and rent
Before it leaves, the tax is sent
[Chorus]
Residents worldwide, non-residents source
FAPI and dumping, stay on course
Part thirteen withholding, thirty percent rate
Controlled foreign affiliates, don't be late
Remember the rules, keep them in mind
Canada's tax net is globally designed
[Verse 3]
Foreign accrual property income's the name
When your foreign company plays the passive game
Interest, dividends, rental too
FAPI brings that income back to you
If you control more than fifty percent
Current taxation is what's meant
[Bridge]
Section two twelve point three appears
When foreign affiliate dumping interferes
Canadian company buys a foreign friend
With borrowed money, but that's not the end
Anti-avoidance rules will apply
To stop the tax base flowing by
[Chorus]
Residents worldwide, non-residents source
FAPI and dumping, stay on course
Part thirteen withholding, thirty percent rate
Controlled foreign affiliates, don't be late
Remember the rules, keep them in mind
Canada's tax net is globally designed
[Outro]
From sea to sea and beyond the border
International tax keeps perfect order
Four key rules to guide your way
In Canada's global tax display