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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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Expanding Horizons: Canadian Businesses Look to Europe for Growth

In response to shifting global trade dynamics, Canadian companies are increasingly turning their attention to Europe for exports and expansion. With the Comprehensive Economic and Trade Agreement (CETA) facilitating smoother trade between Canada and the European Union, businesses see Europe as a promising market for growth.  

Rising competition and economic changes in North America have prompted firms to diversify their reach. Many Canadian industries, including technology, agriculture, and manufacturing, are finding new opportunities in European markets, taking advantage of reduced tariffs and streamlined regulatory processes.  

The move aligns with Canada's broader economic strategy to strengthen global trade partnerships beyond traditional markets. As demand for Canadian goods and services grows in Europe, businesses are optimistic about forging long-term connections and tapping into new consumer bases.  



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