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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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Trump's Remarks Stir Political Debate in Canada


In a recent interview with Fox News, U.S. President Donald Trump made waves by stating that he would prefer dealing with a Liberal government in Canada over a Conservative one. Trump described Conservative leader Pierre Poilievre as "stupidly, no friend of mine," citing negative comments Poilievre has made about him. Trump added that he finds it "easier to deal with a Liberal" and expressed indifference about the outcome of Canada's upcoming federal election.

Poilievre responded to Trump's remarks during a press conference in Sudbury, Ontario, emphasizing his strong leadership and commitment to putting Canada first. He criticized the Liberals, led by Prime Minister Mark Carney, for policies he claims have weakened Canada and driven investment south of the border. Poilievre framed Trump's comments as an endorsement of Carney, suggesting that Trump prefers a weaker Canada under Liberal leadership.

The exchange has sparked significant political discourse, with both parties using Trump's comments to bolster their narratives ahead of the election. The Liberal Party has seen a rise in polls since Carney assumed leadership, while Poilievre continues to position himself as a tough negotiator capable of standing up to Trump.

The remarks highlight the complex dynamics of U.S.-Canada relations and their influence on Canadian politics.

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