Department of Finance Canada introduced Bill C-31, the second Budget 2025 implementation bill.
The bill contains several tax-administration and business-investment measures rather than one narrow program change.
One measure would move toward automatic federal benefits for low-income individuals by automatically filing tax returns for the 2026 tax year. Finance Canada said the goal was to reach up to 5.5 million low-income Canadians by the 2028 tax year.
The bill also includes implementation of the Crypto-Asset Reporting Framework. That framework is intended to require crypto platforms to collect and share information about users with tax authorities, improving transparency and reducing tax evasion risk.
Another measure would amend the Global Minimum Tax Act to preserve the integrity and stability of the global minimum tax system.
For business investment, Bill C-31 includes immediate expensing for manufacturing or processing buildings as part of the Productivity Super-Deduction.
The bill is important because it turns Budget 2025 policy announcements into legislative text. The tax items range from benefit access and automatic filing to corporate minimum tax, crypto reporting, and capital-investment incentives.