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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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Market Surge as U.S. Court Blocks Trump’s Tariffs

Wall Street saw a significant boost in premarket trading after a federal court ruled against former President Donald Trump’s sweeping tariffs. The U.S. Court of International Trade determined that Trump had exceeded his authority in imposing broad import duties, leading to an immediate invalidation of most of the tariffs.

The ruling sparked optimism among investors, with futures for the **Dow Jones Industrial Average rising 0.49%**, the S&P 500 climbing 1.09%, and the Nasdaq 100 surging 1.62%. Tech stocks, particularly AI chipmakers, benefited from the decision, with Nvidia jumping over 6% following strong quarterly earnings.

While the court’s decision is expected to ease trade tensions and bolster market confidence, the White House has already signaled plans to appeal, leaving some uncertainty about the long-term impact. Analysts suggest that if the ruling holds, it could significantly reshape U.S. trade policy and strengthen global economic stability.

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