Bill C-230: An Act to amend the Financial Administration Act and to make consequential amendments to other Acts (debt forgiveness registry)

This bill primarily affects corporations, trust companies, and partnerships that have had significant debts or obligations to the federal government forgiven, written off, or waived. If your business has ever had $2 million or more in federal debts — such as unpaid taxes, government loans, or other Crown claims — remitted or forgiven, your company's name, the amount, and the circumstances will be published in a publicly searchable online database. This creates a transparency and reputational consideration for larger businesses across all industries and provinces that deal with federal financial obligations. Small businesses and sole proprietors are less likely to be affected given the $2 million threshold, but mid-size and larger firms in sectors like natural resources, manufacturing, real estate, or finance that have negotiated debt relief with the federal government could see that information made public.