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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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Postal Talks Resume Amid Ongoing Overtime Ban

Canada Post and the Canadian Union of Postal Workers (CUPW) are set to return to the bargaining table as an overtime ban continues to impact operations. The union, representing 55,000 postal workers, opted for the ban instead of a full strike, citing unresolved issues such as wages, part-time staffing, and weekend deliveries.

Canada Post has proposed further negotiations and is expected to respond to the union’s latest proposals presented on Sunday. The postal service has reported a significant drop in parcel volumes, with last week’s numbers down 50% compared to the previous year. 

While the overtime ban remains in effect, both parties are working toward a resolution that balances worker demands with the financial realities of Canada Post. The outcome of these negotiations could shape the future of postal services across the country.

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