[Verse 1] When a parent holds the shares, ninety percent or more Section eighty-eight unlocks the corporate door Subsidiary dissolves, assets flow upstream But the tax code splits this into schemes Eighty-eight-one for the qualifying game Eighty-eight-two when rules aren't quite the same [Chorus] Wind it up, wind it down Bump-up or carry-ground Eighty-eight-one's the prize Asset values can disguise Wind it up, wind it down Losses spinning all around Choose your section, know the cost Tax position won't be lost [Verse 2] Qualifying wind-up needs Canadian control Taxable Canadian corporation plays the role Parent company must be Canadian too Then eighty-eight-one's available for you Asset bump-up to fair market price Non-capital losses roll like loaded dice [Chorus] Wind it up, wind it down Bump-up or carry-ground Eighty-eight-one's the prize Asset values can disguise Wind it up, wind it down Losses spinning all around Choose your section, know the cost Tax position won't be lost [Verse 3] Foreign parent or the tests don't qualify Eighty-eight-two becomes your battle cry Cost base transfer, no bump-up reward Capital losses vanish like a sword But non-capital losses still survive Keep the tax planning dream alive [Bridge] Depreciable property needs special care Undepreciated balance transfers fair Capital gains election might apply When fair value makes the assets fly Timing matters in this corporate dance One mistake kills your tax advance [Chorus] Wind it up, wind it down Bump-up or carry-ground Eighty-eight-one's the prize Asset values can disguise Wind it up, wind it down Losses spinning all around Choose your section, know the cost Tax position won't be lost [Outro] Corporate dissolution's final breath Section eighty-eight conquers tax death Parent claims what subsidiary owned In Canada's rules, precisely honed
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