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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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Gaza Residents Return Home as Ceasefire Holds: A New Dawn in Northern Gaza

 

In a significant development, tens of thousands of Palestinians began streaming back to northern Gaza on Monday, January 27, 2025, following a breakthrough in hostage negotiations between Hamas and Israel. The ceasefire agreement, mediated by Qatari officials, has paved the way for the return of displaced residents to their homes.

The breakthrough came after Hamas agreed to release three Israeli hostages, including civilian Arbel Yehud, and Israeli forces began withdrawing from key corridors in Gaza. The first crossing point in central Gaza opened at 7:00 a.m. (0500 GMT), allowing residents to start their journey north. Another crossing opened three hours later, permitting vehicles to pass.

Residents, some carrying infants and bundles of belongings, walked along the coastal road by the Mediterranean Sea shore. "It's like I was born again and we were victorious again," said Umm Mohammed Ali, a Palestinian mother, as she joined the miles-long throng.

The return of displaced Gazans marks a moment of hope amid the prolonged conflict. "My heart is beating, I thought I would never come back," said Osama, a 50-year-old public servant and father of five, as he arrived in Gaza City. "Whether the ceasefire succeeds or not, we will never leave Gaza City and the north again," he added.

The ceasefire agreement also includes staggered releases of hostages over six weeks, with around 1,900 Palestinian prisoners expected to be freed in exchange. The humanitarian situation in Gaza remains dire, but the recent developments have brought a surge of aid into the war-torn region.

As families reunite and rebuild their lives, the hope for lasting peace and stability in Gaza grows stronger.


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