In Episode 22, Clyde Seymour joins us to discuss significant changes to the mandatory disclosure rules for Canadian income tax purposes. With the new rules in place for reportable and notifiable transactions after June 22, 2023, and for tax years beginning after 2022 for reportable uncertain tax treatments, taxpayers and their advisors should be aware of the enhanced reporting requirements. Clyde comments on why the federal government decided to enhance the mandatory disclosure rules, explains the difference between reportable and notifiable transactions, and clarifies what constitutes a reportable uncertain tax treatment. We also review the deadlines for the new reporting requirements and discuss the substantial penalties in place for non-compliance.