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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 Orders Hikvision to Cease Operations Amid National Security Concerns

In a decisive move underscoring growing scrutiny of foreign technology firms, the Canadian government has ordered Chinese surveillance equipment manufacturer Hikvision to shut down its operations in Canada. The decision, announced by Industry Minister Mélanie Joly, follows a national security review conducted under the Investment Canada Act.

The review, informed by intelligence from Canada’s security agencies, concluded that Hikvision’s continued presence posed a threat to national security. As a result, the company must cease all business activities within the country. Additionally, federal departments, agencies, and Crown corporations are now prohibited from purchasing or using Hikvision products. A government-wide audit is also underway to identify and remove any legacy equipment.

Hikvision, headquartered in Hangzhou, China, has faced international criticism for its alleged role in human rights abuses in China’s Xinjiang region. The company has denied these allegations and expressed strong disagreement with Ottawa’s decision, calling it “unjustified” and “lacking in transparency.”

While the order does not extend to Hikvision’s operations outside Canada, Minister Joly encouraged Canadians to consider the government’s findings when making personal technology choices.

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