[Verse 1]
When the shareholders shuffle their stakes around
Fifty percent or more changes ground
The taxman declares the year is done
December thirty-first for everyone
Corporation's calendar gets sliced in two
Old year ends, new year's due
[Chorus]
Control flips, year splits, losses get locked away
Asset values tumble down, write-downs here to stay
ACRL - remember well
Acquisition's corporate hell
Year-end, blend, losses bend
New owners can't pretend
[Verse 2]
Net capital losses from the past
Restricted now, they cannot last
Unless the same business carries on
For two years hence, or they're withdrawn
Operating losses face the test
Continuity or they rest
[Chorus]
Control flips, year splits, losses get locked away
Asset values tumble down, write-downs here to stay
ACRL - remember well
Acquisition's corporate hell
Year-end, blend, losses bend
New owners can't pretend
[Bridge]
Fair market value becomes the floor
Depreciable assets can't ignore
The mandatory markdown rule
New basis makes the old one cruel
Goodwill and intangibles too
Must face the valuation view
[Verse 3]
Twenty-one day election might
Save some losses from their plight
But timing's critical to preserve
The benefits that you deserve
Professional advice required
Before your planning gets expired
[Chorus]
Control flips, year splits, losses get locked away
Asset values tumble down, write-downs here to stay
ACRL - remember well
Acquisition's corporate hell
Year-end, blend, losses bend
New owners can't pretend
[Outro]
When control acquisition's near
These consequences crystal clear
Plan ahead or pay the price
Tax efficiency needs advice