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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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Assassination of Hamas Leader in Iran Sparks Fears of Escalation

 

The assassination of Hamas leader Ismail Haniyeh in Tehran has sent shockwaves through the region, raising concerns about potential retaliation and a broader conflict. Haniyeh, a prominent figure in the Palestinian militant group, was killed early Wednesday morning, according to statements from both Hamas and Iranian officials.

The incident has drawn immediate threats of revenge against Israel, further destabilizing a region already grappling with the ongoing war in Gaza and escalating tensions in Lebanon. Iran’s Supreme Leader, Ali Khamenei, has vowed to seek retribution, declaring three days of national mourning.

Haniyeh’s assassination comes amid a fragile ceasefire in Gaza, brokered by international mediators. The killing is seen as a significant escalation, potentially derailing peace efforts and igniting further violence. The Israeli government has not commented on the incident, but the Israeli military is reportedly assessing the situation.

The international community, including U.S. Secretary of State Antony Blinken, has expressed concern over the potential for wider regional conflict. Blinken emphasized the importance of maintaining the ceasefire to prevent further escalation.

As the region braces for possible retaliatory attacks, the assassination of Haniyeh underscores the volatility of the current geopolitical landscape and the urgent need for diplomatic solutions to prevent a broader war.


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