Withdrawing from present studies in order to be allowed to apply for another one? Asking for clarification of a clause in my admission letter
&quot;I confirm that I am not bound to enrolment at another education institution that would require a release.&quot;

To me the phrases here &quot;bound to enrollment&quot; and &quot;require a release&quot; seem important; the first phrase suggests some sort of contract, the second suggests that you require permission from those who have you bound to leave this contract. Joining these phrases with &quot;that&quot; suggests that both situations must be true: contract that requires permission from someone else for you to withdraw from it.
My non-lawyer reading is that if, like most educational programs, you can simply choose to leave at the end of a semester without particular penalty, then you are not bound to enrollment and do not require a release. You might be bound if you have an agreement to do some work for funding, and especially if you have tuition remission that becomes void if you leave in the middle of a semester.
However, since the potential fallout from violating this policy could include losing your offer, I think it's worth verifying that you are in the clear. Assuming you can leave your program in Canada at any time, I would still confirm with the program in Australia that your current attendance is not an issue. It shouldn't be too much of a surprise to them because I'm sure you explained your situation in your application. Explain to them any terms of your current enrollment, and your plans for how and when you will leave the current program, and any restrictions or lack of restrictions on doing so.
You also definitely do not want to lie or mislead on any visa application. My understanding that doing so can permanently (or at least for many years) disqualify you for a visa, even if you did not intend to mislead.
You could also have a lawyer interpret the phrasing and give you legal advice, but you can't get personal legal advice from Stack Exchange.