[Verse 1]
When you're consulting in Canada, there's a magic number to know
Basic Personal Amount keeps your taxes low
Sixteen thousand one-twenty-nine federal line
Add provincial amounts and you're doing fine
Structure your income like pieces of a pie
Salary, dividends, rental - keep them all shy
[Chorus]
Stay within the BPA, that's the golden way
Personal Amount magic keeps the tax at bay
Rental minus housing, salary you take
Dividends from your corp, calculate don't break
Non-taxable coverage for the life you're living
BPA strategy keeps your money giving
[Verse 2]
Rent your home office to the corporation
Housing expense offset, smart calculation
Net rental income should be just a slice
Of your total pie, keep the numbers nice
Draw a modest salary, CPP and EI
But don't go over, keep your total shy
[Chorus]
Stay within the BPA, that's the golden way
Personal Amount magic keeps the tax at bay
Rental minus housing, salary you take
Dividends from your corp, calculate don't break
Non-taxable coverage for the life you're living
BPA strategy keeps your money giving
[Bridge]
Vehicle reimbursement, transit pass too
Health spending account, all tax-free for you
While your basic needs get covered this way
Your taxable income can stay in BPA
Spousal amounts if you're sharing the load
Family benefits down this golden road
[Verse 3]
Three streams of income but one simple goal
Keep the combination under your control
Federal plus provincial, know your province rate
Calculate precisely, don't leave it to fate
Non-taxable benefits cover what you need
While your structured income plants the perfect seed
[Chorus]
Stay within the BPA, that's the golden way
Personal Amount magic keeps the tax at bay
Rental minus housing, salary you take
Dividends from your corp, calculate don't break
Non-taxable coverage for the life you're living
BPA strategy keeps your money giving
[Outro]
Basic Personal Amount, remember the name
Personal tax efficiency, master the game