Canada’s federal finance ministry has tabled draft legislation proposing that the new trust reporting rules are delayed by a further year and apply only to taxation years that end after December 30, 2023. The rules in Bill C-32 will still require the disclosure of information on each trustee, beneficiary, settlor, and protector of a trust, including bare trusts. The proposed commencement date of January 1, 2023 for mandatory disclosure of reportable and notifiable transactions has also been dropped and the proposal will not come into force until a Bill implementing those changes receives royal assent.