But remember you do NOT have to answer any questions the police ask you about the incident. Learn your rights and do not self-incriminate yourself.
"know your rights ontario"
And read this:
When you are charged and convicted as the OWNER of a vehicle, there is a fine only and no demerts and no insurance increase.
How do you get charged as the driver? Either you gave your information to the bus driver (which you said you did not), or the police come knocing at your door and ask who was driving on that date and time you tell them it was you (which you don't have to tell them).
So assuming you dont tell the police you were driving, then the worst case is that you could receive a ticket as OWNER if the bus driver reported your vehicle and license plate.