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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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Market Surge After Trump Rally Incident

 

Following the recent incident at a Pennsylvania rally where former President Donald Trump was shot in the ear, financial markets experienced notable movements. Here are the key highlights:

  1. Trump Media & Technology Group (TMTG) Shares Surge:

    • Shares of Trump Media & Technology Group (TMTG), the parent company of social media platform Truth Social, soared by 67% in premarket trading. Trump owns a majority stake in TMTG, which was worth about $3.8 billion as of June 25, 2024.
    • The surge in TMTG stock reflects investors’ anticipation that Trump’s odds of winning the election have risen following the assassination attempt.
    • Retail traders have been betting on a Trump victory, and this recent incident further fueled their confidence.

  2. Crypto Stocks React:

    • The intersection between political events and crypto price movements became evident. The Solana memecoin TRUMP (MAGA) surged by 42% within minutes of the news breaking, while Bitcoin climbed past the $59,000 mark.
    • Trump’s crypto-friendly stance has contributed to the positive sentiment in the crypto market.
    • Crypto exchange Coinbase Global, bitcoin miners Riot Platforms Inc, and Marathon Digital also saw gains of 6% to 7%.

  3. Other Market Reactions:

    • The broader US market remained subdued, with futures tied to the S&P 500 edging up by 0.4%.
    • Gun maker Smith & Wesson Brands gained 2.7%, as gun stocks tend to rise after mass shootings.
    • Prison stocks Geo Group and CoreCivic rose about 7%, potentially benefiting from Trump’s promised crackdown on illegal immigration.
    • Software developer Phunware and video-sharing platform Rumble also saw significant increases in their stock prices.

While these market movements reflect the immediate impact of the incident, it’s essential to keep an eye on further developments as the US election campaign continues. 





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