OBS_VALUE: Lower federal tax rates apply to the active business income of small Canadian-controlled private corporations (CCPC).The first $500,000 of annual income earned by a Canadian-controlled private corporation (CCPC) from an active business carried on in Canada is taxed at a preferential federal corporate income tax rate of 9% as of 2019. ·         The $500,000 annual small business limit must be shared by a CCPC with other CCPCs, with which it is associated. ·         In order to target the preferential tax rate to small businesses, the annual small business limit is gradually reduced when the taxable capital of the CCPCs that are part of the same associated group is between $10 million and $15 million, and is zero if the taxable capital of the associated group is $15 million or greater.·         For tax years after 2018, the annual small business limit is also gradually reduced when the aggregate investment income of the CCPCs that are part of the same associated group is between $50,000 and $150,000, and is zero if the investment income of the associated group is $150,000 or greater.·           Reduction of the corporation's business limit will be equal to the greater of these two reductions.  The government proposes that foreign-based vendors selling digital products or services to consumers in Canada be required to register for, collect and remit the GST/HST on their taxable sales to Canadian consumers, effective July 1, 2021.  