If the new law passes in its current form, it would no longer be possible to buy, import or transfer small arms in Canada.
The government also wants to make it possible for those convicted of crimes such as domestic violence, unlawful threats and stalking to have their gun licenses revoked.
In addition, the government wants to see a preventive system that will force people who are considered a threat to themselves or others to hand in their weapons.
Furthermore, the law would set a new limit for how many cartridges a rifle magazine may contain, a total of five.
"Apart from using firearms for sport shooting and hunting, there is no reason for anyone in Canada to have a weapon," said Justin Trudeau, who is also the leader of Canada's Liberal Party.
The government has been criticized by the country's conservative opposition, which among other things believes that the proposal risks affecting the country's law-abiding gun owners negatively.