I don't think there's an easy answer to that one.
What you want to look at is what the international standards are. Canada wants to be in compliance with the international standards, or ahead of them.
I think the important thing is transparency. That's what this is all about. It's about transparency of ownership, so you know who you are dealing with. It's not about revealing tax forms or what your tax situation is. It's about the ownership of companies. It's about who the actual owner of a company is so that you know who you're dealing with and they're not hiding behind the corporate veil.