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What to Do with Your Tax Refund: 5 Smart Moves for Canadians

  Tax Season · Personal Finance By MoneySavings.ca Editorial Team • May 7, 2026 • 7 min read Tax season is wrapping up across Canada, and for millions of Canadians, that means a refund cheque — or a direct deposit — is on its way. The average Canadian tax refund hovers around $1,800. That's real money. The question is: what's the smartest thing you can do with it? It's tempting to treat a tax refund like "found money" and splurge. But here's the truth — that refund was your money all along. The government was just holding it for you, interest-free. So before it quietly disappears into day-to-day spending, let's look at five moves that will make it work harder for you. $1,800 The average Canadian tax refund — enough to make a meaningful dent in debt, pad an emergency fund, or kick-start your TFSA for the year. 1 Pay Down High-Interest Debt First If you're carrying a balance on a credit card, this should be your very first call. Most Canadian credit car...
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In a heart-wrenching incident that has shaken the city of Ottawa, six individuals, including four children, were found deceased in a home on Wednesday night. The Ottawa Police Service has confirmed that their homicide unit is actively investigating the case. Among the victims was an infant, tragically just months old, marking a profound loss for the community and the nation at large.

The incident occurred in the Barrhaven suburb, where authorities were called to the scene late Wednesday evening. The police have since taken one person into custody and have assured the public that there is no further threat to safety. The identities of the victims and the suspect have been released, revealing the devastating impact on a family new to Canada from Sri Lanka.

This senseless act has prompted an outpouring of grief and support from across the country, as Canadians come together to mourn the loss and extend their sympathies to those affected. The investigation continues, with more details expected to be shared by the authorities as they become available.

As the community grapples with this tragedy, questions arise about the circumstances that led to such a devastating outcome. The nation watches, waits, and hopes for answers, while holding the memories of the young lives lost in solemn remembrance.

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