[Verse 1] Section six subsection one letter A Tells us what employment benefits we pay Board and lodging, benefits of any kind Received or enjoyed, keep these words in mind In respect of office, in the course of work By virtue of employment, don't let taxes lurk [Chorus] What's the value, what's enjoyed, by virtue of what Three key questions when benefits are sought Market price or subjective worth, forced or chosen path Operational need or employment's wrath Value, enjoyed, by virtue of Break it down, break it down, that's tax law love [Verse 2] Value means the worth but which standard applies Market value, replacement cost, or subjective price When your employer gives you something free What's the measure of liability The courts will look at fair market rate But edge cases keep lawyers up late [Chorus] What's the value, what's enjoyed, by virtue of what Three key questions when benefits are sought Market price or subjective worth, forced or chosen path Operational need or employment's wrath Value, enjoyed, by virtue of Break it down, break it down, that's tax law love [Verse 3] Enjoyed suggests some pleasure or gain But what if benefits cause you pain Forced to take a company car you hate Does unwilling receipt still create A taxable benefit in your name Even when enjoyment's not your game [Bridge] By virtue of employment, that's the final test Does operational necessity put causation to rest If your boss requires tools for work you do Is the benefit truly flowing through From employment's relationship to you Or is it just what the job demands you use [Chorus] What's the value, what's enjoyed, by virtue of what Three key questions when benefits are sought Market price or subjective worth, forced or chosen path Operational need or employment's wrath Value, enjoyed, by virtue of Break it down, break it down, that's tax law love [Outro] Six one A, remember the three Value, enjoyed, virtue's the key When benefits flow from work you do These questions help determine what's due
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