By Vern Krishna ( December 18, 2017, 8:57 AM EST) -- Canadian-controlled private corporations (CCPCs) that carry on an active business in Canada are taxable at special low rates. In 2017, the first $500,000 of income from such active business income (ABI) is taxable at a combined federal and provincial rate of about 15 per cent. Income above $500,000 is taxable at about 27.5 per cent. Hence, it is important to plan for shareholder and corporate taxation before the year end to maximize rates of return, and minimize the overall tax burden....