C-32Fall Economic Statement Implementation Act, 2022
An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Government bill, introduced in the House of Commons on November 4, 2022
- Status
- Became law on December 15, 2022 · S.C. 2022, c. 19
What it does
Implements tax, housing, charity, cannabis and mining measures from the 2022 fall economic statement and budget.
What it does
- Treats gains from selling a Canadian housing unit within 365 days of buying it as business income, with exceptions for death, illness, relocation, job loss, insolvency, destruction or expropriation.
- Creates First Home Savings Accounts, with tax-deductible contributions, tax-free growth rules, transfer rules and anti-avoidance rules, and sets a $40,000 lifetime cap and an $8,000 annual limit starting April 1, 2023.
- Raises the first-time home buyers' tax credit to $10,000, expands medical expense claims to fertility clinic and donor bank fees in Canada and surrogacy costs, and creates a tax credit for adding a secondary unit for an eligible senior or person with a disability.
- Imposes a 1.5% additional tax on banks, life insurers and related institutions on taxable income above $100 million, and creates a Canada Recovery Dividend for those groups based on 2020 and 2021 income.
- Changes trust, charity and anti-avoidance rules, including new bare trust filing rules and penalties, changes to registered charity disclosure, a monthly tax on excess FHSA amounts, and broader information-gathering powers.
- Changes cannabis excise rules so licensees package and stamp products before duty-paid market entry, adds flow-through rules for critical mineral mining expenses, and amends underused housing tax rules for partnerships, exemptions, penalties, occupancy conditions and Social Insurance Numbers.
Who it affects
- First-time home buyers
- People using FHSAs
- Seniors and adults with disabilities
- Banks and life insurers
- Trusts and charities
- Cannabis licence holders
- Owners of underused housing
- Critical mineral miners
Background
The bill implements certain measures from the fall economic statement tabled in Parliament on November 3, 2022, and certain measures from the budget tabled on April 7, 2022.
Where it is
House of Commons
First reading
Completed.
Second reading
Completed.
Committee
Completed.
Report stage
Completed.
Third reading
Completed.
Senate
First reading
Completed.
Second reading
Completed.
Committee
Completed.
Third reading
Completed.
Senate pre study
Completed.
Royal assent
Royal assent
Completed.
Introduced by a cabinet minister on behalf of the government. Government bills get set time for debate, so they are the most likely to become law. How a bill becomes law
How the House voted
3rd reading and adoption of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Vote 237,
Passed
209 yeato105 nay
Party breakdown for vote 237 Party Position Yea Nay Did not vote Liberal Yea 150 0 8 Conservative Nay 0 105 13 Bloc Yea 31 0 1 NDP Yea 24 0 1 Green Yea 2 0 0 Independent Yea 2 0 0 Total 209 105 Concurrence at report stage of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Vote 233,
Passed
205 yeato105 nay
Party breakdown for vote 233 Party Position Yea Nay Did not vote Liberal Yea 149 0 9 Conservative Nay 0 105 13 Bloc Yea 30 0 2 NDP Yea 24 0 1 Green Yea 2 0 0 Independent Did not vote 0 0 2 Total 205 105 Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022 (report stage amendment)
Vote 232,
Failed
105 yeato207 nay
Party breakdown for vote 232 Party Position Yea Nay Did not vote Liberal Nay 0 149 9 Conservative Yea 105 0 13 Bloc Nay 0 30 2 NDP Nay 0 24 1 Green Nay 0 2 0 Independent Nay 0 2 0 Total 105 207 2nd reading of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Vote 220,
Passed
201 yeato112 nay
Party breakdown for vote 220 Party Position Yea Nay Did not vote Liberal Yea 148 0 10 Conservative Nay 0 112 6 Bloc Yea 27 0 5 NDP Yea 23 0 2 Green Yea 2 0 0 Independent Yea 1 0 1 Total 201 112 2nd reading of Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022 (reasoned amendment)
Vote 219,
Failed
112 yeato203 nay
Party breakdown for vote 219 Party Position Yea Nay Did not vote Liberal Nay 0 147 11 Conservative Yea 112 0 6 Bloc Nay 0 28 4 NDP Nay 0 24 1 Green Nay 0 2 0 Independent Nay 0 2 0 Total 112 203 Time allocation for Bill C-32, An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Vote 218,
Passed
164 yeato141 nay
Party breakdown for vote 218 Party Position Yea Nay Did not vote Liberal Yea 141 0 17 Conservative Nay 0 111 7 Bloc Nay 0 26 6 NDP Yea 23 0 2 Green Nay 0 2 0 Independent Nay 0 2 0 Total 164 141
What MPs said
Each party’s first speech on this bill in the House, from Hansard. Excerpts are the speaker’s opening sentences, unedited.
LiberalRandy Boissonnault· November 14, 2022
“With Bill C-32, we are moving forward with an important measure to make life more affordable for a group of Canadians heavily affected by rising prices: post-secondary graduates with student loans. With the passing of this bill, the federal portion of all Canada student loans and Canada apprenticeship loans would become permanently interest free, including those being repaid.”
Read the full speech on openparliament.caConservativeAdam Chambers· November 14, 2022
“I have only been here for a year, but I have been driving all over the city and I still cannot find the money tree. I do not know where it is, but the government spent $100 billion of added debt before COVID and spent $500 billion of debt during COVID.”
Read the full speech on openparliament.caBlocAlain Therrien· November 14, 2022
“Part of an MP's job is to acknowledge the achievements of people from our riding. I am going to take a few seconds to talk about an important event that took place on the weekend.”
Read the full speech on openparliament.caNDPPeter Julian· November 14, 2022
“I appreciate your help in circumventing the rules.”
Read the full speech on openparliament.caGreenElizabeth May· November 18, 2022
“Today we are taking up Bill C-32, the legislative interpretation of the Minister of Finance's fall economic statement, as tabled on November 4. I will start with the things I like about the bill.”
Read the full speech on openparliament.ca
Read the source
LEGISinfo status: Royal assent received. Bill data from LEGISinfo, votes from openparliament.ca and the House of Commons. Last updated October 13, 2026.