[Verse 1] When you transfer property to a corporation's hands Section eighty-five is how you make your stand Tax-deferred rollover keeps the burden light Choose your elected amount to get the treatment right From the floor of adjusted cost base way up high To the ceiling of fair market value in the sky [Chorus] Eighty-five election, make your choice with care Elected amount between the floor and ceiling there Boot received plus shares equals fair market price Tax-deferred transfer, roll it over nice Section eighty-five, Section eighty-five Keep your taxes low while ownership's alive [Verse 2] Boot is non-share consideration that you take Cash or debt or property for goodness sake When boot exceeds your elected amount chosen Capital gain appears, your deferral's broken Shares received take up the remaining space Adjusted cost base fills out their tax base [Chorus] Eighty-five election, make your choice with care Elected amount between the floor and ceiling there Boot received plus shares equals fair market price Tax-deferred transfer, roll it over nice Section eighty-five, Section eighty-five Keep your taxes low while ownership's alive [Bridge] Corporation takes the asset at elected cost Depreciable property rules can't be lost Capital cost allowance classes stay the same Undepreciated balance plays the transfer game Goodwill and eligible capital property too Follow special rules for what they're allowed to do [Verse 3] Common planning sees the freeze transaction flow High-growth assets at today's value low Preferred shares for current worth you hold Common shares for future growth untold Estate planning and succession strategies Use Section eighty-five for tax efficiencies [Chorus] Eighty-five election, make your choice with care Elected amount between the floor and ceiling there Boot received plus shares equals fair market price Tax-deferred transfer, roll it over nice Section eighty-five, Section eighty-five Keep your taxes low while ownership's alive [Outro] File the election by the deadline date Joint election, don't be running late Floor to ceiling, boot and shares align Section eighty-five keeps your taxes fine
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