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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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Canada Post's Final Offer: A Pivotal Moment in Labour Negotiations

 

Canada Post has presented what it calls its final offer to the Canadian Union of Postal Workers (CUPW), as negotiations continue amid an ongoing overtime ban. The Crown corporation's proposal includes a signing bonus of up to $1,000, improved cost-of-living allowances, and an end to compulsory overtime. However, key sticking points remain, including the hiring of part-time staff for weekend deliveries.  

The union, representing 55,000 workers, had been in a strike position but opted for an overtime ban instead. Canada Post has reported a significant decline in parcel volumes—down 65% compared to last year—due to ongoing uncertainty.  

With losses exceeding $4 billion since 2018 and a $1-billion federal loan keeping the organization afloat, Canada Post faces critical questions about its future. As negotiations unfold, the outcome of these discussions could shape the trajectory of the postal service for years to come.

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