Mr. Speaker, I rise on a point of order regarding Bill C-15, the budget 2025 implementation act, no. 1.
I would like to notify the House of a technical issue in clause 71. That clause of Bill C-15 proposes amendments to the trust reporting rules in the Income Tax Act. Some of these amendments were intended to first apply to the 2024 taxation year. Due to a technical issue in subclause 71(14) of Bill C-15, these amendments are inadvertently limited so that they apply only to the 2024 taxation year and not later years.
It is the government's intention that the proposed amendments referenced in that subclause apply to the 2024 taxation year as well as to subsequent taxation years. This is consistent with what was reflected in the draft legislative proposals for this measure, which were publicly released by the Department of Finance in August 2025.
To provide clarity to impacted taxpayers, the government intends to propose an amendment to Bill C-15 to rectify this technical issue at the first opportunity.