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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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Israel Terminates Agreement with UNRWA, Impacting Aid in Gaza

 

In a significant development, Israel has officially terminated its agreement with the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), the primary provider of aid in Gaza. This move follows recent legislation passed by the Israeli parliament, which restricts UNRWA’s operations within Israeli territory.

The Israeli government has accused UNRWA of being infiltrated by Hamas, a claim the agency firmly denies, asserting that it maintains strict neutrality in its operations. The termination of this agreement, which dates back to 1967, is seen as a step towards implementing the new laws that sever ties with the agency.

UNRWA has been a crucial lifeline for millions of Palestinians, providing essential services such as education, healthcare, and food aid. The cessation of cooperation with UNRWA is expected to exacerbate the already dire humanitarian situation in Gaza, where the population relies heavily on international aid.

The international community has expressed concern over the potential humanitarian impact of this decision. Aid groups warn that the new restrictions could severely hamper efforts to address the ongoing crisis in Gaza.

As the situation unfolds, the focus remains on how this decision will affect the delivery of aid and the broader implications for the region’s stability.


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