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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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U.S. Tightens Visa Screening for Harvard-Bound Travelers

In a significant policy shift, the Trump administration has ordered additional vetting for all visa applicants seeking to travel to Harvard University for any purpose. The directive, issued by U.S. Secretary of State Marco Rubio, applies to prospective students, faculty, employees, contractors, guest speakers, and even tourists.

The administration cites concerns over Harvard's alleged failure to maintain a campus environment free from violence and anti-Semitism, prompting stricter screening measures. Consular officers have been instructed to scrutinize applicants' online presence, including social media activity, and may request individuals to make private accounts public for evaluation.

This move is part of a broader immigration crackdown, with officials emphasizing the need to identify applicants with histories of anti-Semitic harassment and violence. The policy also serves as a pilot program for expanded visa screening across other U.S. universities.

Harvard has faced mounting pressure from the administration, including funding freezes and investigations into alleged discriminatory practices. The university argues that these measures are politically motivated and retaliatory.

As the policy takes effect, its implications for international students and academic freedom remain a topic of heated debate. Critics warn that such measures could deter global talent from seeking education in the U.S., while supporters argue that enhanced security is necessary to protect national interests.

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