The Department of Finance Canada said Finance Minister François-Philippe Champagne has introduced the second Budget 2025 implementation bill, advancing a broad package of measures across tax administration, international tax, crypto-asset reporting, housing finance, labour mobility, transport complaints and defence procurement. For tax and financial market participants, the bill would automate federal tax filing for low-income individuals, amend the Global Minimum Tax Act, and implement the new Crypto-Asset Reporting Framework, requiring crypto platforms to collect and share user information with tax authorities. The package also provides for automatic enrolment in the Canada Learning Bond, amendments to national housing and residential mortgage or hypothecary insurance legislation, and immediate expensing for manufacturing or processing buildings under the Productivity Super-Deduction. Other measures would transfer responsibility for resolving air passenger complaints to the Minister of Transport with requirements for timely and transparent decisions, fair compensation terms and higher penalties for airlines, ban most non-compete clauses in employment contracts in federally regulated industries, and establish the Defence Investment Agency as a stand-alone entity. Automatic tax filing is planned for the 2026 tax year and is intended to reach up to 5.5 million low-income Canadians by the 2028 tax year.

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