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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pension benefit acts and the federal Pension Benefits Standards Act impose limits on the maximum amount that can be withdrawn from a LIF in a year.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.