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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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Conservatives Leverage Singh's Critique in Non-Confidence Motion


In a strategic move, the Conservative Party plans to introduce a non-confidence motion next week, utilizing NDP Leader Jagmeet Singh's own words to challenge the minority Liberal government. The motion quotes Singh's criticism of the Liberals, accusing them of succumbing to corporate greed by ordering binding arbitration in labor disputes involving the nation's largest rail yards.

The proposed motion aims to persuade New Democrats to join forces with the Conservatives, declaring a loss of confidence in Prime Minister Justin Trudeau and his government. If successful, this motion could trigger an immediate election, a scenario the Conservatives are eager to see.

Government House Leader Karina Gould has announced plans to schedule opposition days for both the Conservatives and the NDP next week, providing a platform for this critical motion. The outcome of this political maneuver remains uncertain, as the NDP has previously taken a case-by-case approach to non-confidence votes.

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