Sole Proprietorship

A sole proprietorship belongs to one person. A self-employed person, for example, is considered to operate a sole proprietorship.  

The owner of the business receives all the profits of the business.

Income tax return

You may be required to

  • report sole proprietorship income by completing Schedule L of your income tax return (form TP-1);
  • enclose with your return the financial statements of the sole proprietorship or form TP-80-V, Business or Professional Income and Expenses.

For more information, click Income Tax Return

Consumption taxes

Depending on your activities, you may also be required to meet certain business obligations, such as 

  • registering for certain Revenu Québec files when starting your business; 
  • collecting and reporting taxes.

For more information, click Consumption Taxes.

Source deductions and contributions

Depending on your activities, you may also be required to meet certain obligations for businesses, employers and payers, such as 

  • calculating and remitting to us the amounts withheld at source from the salaries or wages of your employees or beneficiaries; 
  • calculating your employer contributions and remitting them to us. 

For more information, click Source Deductions and Contributions.

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