[Verse 1]
When you're running your corporation from your home
There's a rental trick that you should know
Instead of claiming office space the usual way
Let your corp be the one who's gonna pay
Set up a rental agreement, make it fair and square
Research what offices cost in your city there
Document the rates from two or three providers
This makes your rental pricing rock solid survivors
[Chorus]
Rent it out, rent it out, corp pays you the fee
Deduct the expense, that's how it should be
You report rental income on your personal side
Offset by housing costs, let the numbers collide
No CPP, no EI, just marginal tax rate
Corporate rental alternative, don't hesitate
[Verse 2]
Write it down in black and white, that rental deal
Fair market value keeps it legit and real
One to two thousand monthly in the city core
For furnished office space with services and more
Your corporation deducts it as expense
While you claim rental income, it all makes sense
Utilities, insurance, maintenance you can claim
Proportionate housing costs balance the game
[Chorus]
Rent it out, rent it out, corp pays you the fee
Deduct the expense, that's how it should be
You report rental income on your personal side
Offset by housing costs, let the numbers collide
No CPP, no EI, just marginal tax rate
Corporate rental alternative, don't hesitate
[Bridge]
CCA on furnishings, don't forget that part
Offset rental income, play it really smart
Research co-working spaces, serviced offices too
Document comparable rates, that's what you gotta do
[Chorus]
Rent it out, rent it out, corp pays you the fee
Deduct the expense, that's how it should be
You report rental income on your personal side
Offset by housing costs, let the numbers collide
No CPP, no EI, just marginal tax rate
Corporate rental alternative, don't hesitate
[Outro]
Written agreement, fair market price
Corporate rental alternative, roll the dice
Your corp deducts, you claim the rent
Tax planning strategy, money well spent