[Verse 1] Start with accounting profit on your ledger page But taxable income needs a corporate stage Add back depreciation, CCA takes its place Meals cut in half, entertainment shows its face Some reserves forbidden, timing rules apply Transform that bottom line before the tax can fly [Chorus] From book to tax, the journey's clear One-twelve deduction makes dividends disappear Part Four kicks in when private corps collect RDTOH refunds what integration protects Corporate income dancing through the maze Book to tax in calculating ways [Verse 2] Inter-company dividends flow between the firms Section one-twelve wipes them clean, no taxable terms But Part Four tax awaits when CCPCs receive From portfolio holdings, thirty-eight percent they'll grieve Connected corps escape this burden's heavy hand Ownership thresholds help you understand [Chorus] From book to tax, the journey's clear One-twelve deduction makes dividends disappear Part Four kicks in when private corps collect RDTOH refunds what integration protects Corporate income dancing through the maze Book to tax in calculating ways [Bridge] Investment income in a CCPC's domain Gets extra tax but refunds ease the strain RDTOH accounts track what the system owes When dividends flow out, the refund money goes Integration theory keeps the burden fair Whether earned direct or through corporate share [Verse 3] Eligible dividends trigger refunds from the pot Non-eligible too, but different rates they've got Aggregate investment income sets the stage For refundable portions at the appropriate age Capital gains and rental streams contribute their share To pools that balance corporate tax with care [Chorus] From book to tax, the journey's clear One-twelve deduction makes dividends disappear Part Four kicks in when private corps collect RDTOH refunds what integration protects Corporate income dancing through the maze Book to tax in calculating ways [Outro] Accounting income starts the corporate tale But tax adjustments tip the scales Remember refundable systems and their grace Keeping integration doctrine in its place
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