[Verse 1] Open up the Act and find your way Sections two through six will light the day Worldwide income if you're resident here Taxable income crystal clear From employment property business too Capital gains will follow you Income is income says the court Savage tells us keep it short [Chorus] What is income under the Act today Two three four five six show the way Nine for office fifteen employment pay Eighteen property gains that stay Benefits flowing enrichment's call Savage says we tax it all Two four eight definitions too Income means what lawyers do [Verse 2] Back in Haig nineteen twenty-one Courts were asking what we'd done Is it income is it not Drawing lines was quite a lot Then came Savage with the test Benefits received expressed Anything that makes you whole Taxable income takes its toll [Chorus] What is income under the Act today Two three four five six show the way Nine for office fifteen employment pay Eighteen property gains that stay Benefits flowing enrichment's call Savage says we tax it all Two four eight definitions too Income means what lawyers do [Bridge] Should income mean what economists say Value added day by day Or should we follow legal rules Technical precise tools One page statement make it clear What the Act says what we hear Versus what the theory shows That's how understanding grows [Verse 3] Section nine tells us the source Office employment of course Section fifteen benefits in kind Taxable amounts you'll always find Section eighteen property income flows Investment gains as value grows Two forty-eight defines it all Foundations strong will never fall [Final Chorus] What is income under the Act today Two three four five six show the way Nine for office fifteen employment pay Eighteen property gains that stay Benefits flowing enrichment's call Savage says we tax it all Two four eight definitions too Now you know what income's true [Outro] Phase one foundations now complete Legal income can't be beat Read the sections know them well Income's story you can tell
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