The Liberals are bracing for political pushback from the Conservatives, as the bill would repeal some measures passed by the previous government.
The bill is expected to fulfil Liberal election platform promises to enhance background checks for anyone buying a handgun or other restricted firearm, as well as require purchasers to present a valid licence.
WATCH: Heidi Rathjen fights for gun control in Canada
The Liberals also pledged to require vendors to keep records of all firearms inventory and sales to assist police in investigating gun trafficking and other firearms-related crimes.
The government has stressed that it has no interest in reviving a national long-gun registry.
Public Safety Minister Ralph Goodale has already earmarked more than $327 million over five years, and $100 million a year thereafter, to address criminal gun and gang activities.