A sole proprietorship is an unincorporated business that is owned by one individual. The business has no existence apart from you, the owner. Its liabilities are your personal liabilities. You undertake the risks of the business for all assets owned, whether used in the business or personally owned. You include the income and expenses of the business on your own tax return.

If you are a sole proprietor, you are required to remit your own employee and employer shares of CPP or QPP contributions and EI premiums to Canada Revenue Agency. Your customers are not required to pay for statutory holidays or vacation time.

The above information is provided "as-is" without warranty of any kind. To learn more about your obligation as a permanent Employee, please visit Canada Revenue Agency’s website.