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L
labour force (population
active).
The number of people in the country 15 years of age or over who either
have a job or are actively looking for one.
labour market (marché
de l'emploi).
The market that determines wages and the number of jobs based on the
supply and demand for workers.
labour market program (programme
du marché du travail).
Labour market programs are government programs designed to improve the
functioning of the labour market, such as those that assist in job
finding, upgrading work skills and improving worker mobility. For more
information, visit Human Resources Development Canada's Programs
& Services Web page.
labour productivity (productivité
du travail).
A measure of how much output our economy produces per worker (i.e. gross
domestic product per worker). A number of factors can cause labour
productivity to change. For example, better education, training,
management, equipment and technology will all tend to increase production
per worker.
labour sponsored venture capital corporation
(LSVCC) (société à capital
de risque de travailleurs (SCRT)).
Fund sponsored by a labour organization in which individuals pool their
money to invest in small businesses. Individuals who invest in the shares
of an LSVCC receive a 15-per-cent federal tax
credit based on the cost of acquiring these shares, up to a maximum
credit of $750. LSVCC shares are qualified investments
for registered retirement savings plans.
large corporations tax (LCT) (impôt
des grandes sociétés (IGS)).
A tax levied on the amount by which a corporation's taxable capital
employed in Canada exceeds $10 million. Members of a related group of
corporations must share the $10-million threshold. Companies can reduce
their LCT liability to the extent of the Canadian portion of their
corporate surtax.
life income fund (LIF) (fonds
de revenu viager (FRV))
Similar to a registered retirement
income fund (RRIF), except a LIF receives funds from a locked-in registered
retirement savings plan. The RRIF minimum withdrawal requirements also
apply to a LIF. In addition, the provincial pension benefit acts and the
federal Pension Benefits Standards Act impose limits on the maximum
amount that can be withdrawn from a LIF in a year.
locked-in registered retirement savings plan
(RRSP) (régime
enregistré d'épargne-retraite (REER) immobilisé ou
bloqué).
RRSP set up to receive funds
transferred from a registered pension plan
on the condition that it be used solely for retirement income
purposes. For more information, visit the Canada Revenue
Agency Registered
Retirement Savings Plans Web page.
long-term interest rate (taux
d'intérêt à long terme).
Interest rate applying on
money lent for a period of 10 years or more. Typically, long-term rates
are higher than short-term rates
because lenders want a higher return for tying up their money for a
lengthy period.
loss carry-over (report
de pertes).
Business or investment loss
incurred in one year that may be used as a deduction
from taxable income in another year.
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