If you operate a business in the form of sole proprietorship, you pay taxes by reporting business income (or loss) on your personal tax return. There is no separate tax return for you business. The business income (or loss) forms part of your overall income for the year.
When you file your income tax return, you have to include financial statements. You can use one or more of the forms included in your T1 income tax form package as your financial statements:
If you registered for GST/HST, you have reporting periods for which you have to file a GST/HST return.