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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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Israel’s 12-Day Air Campaign Delivers Major Blow to Iran’s Nuclear Program, Official Claims

In the aftermath of a 12-day military campaign, a senior Israeli official has claimed that Israel’s air force killed over 30 Iranian security chiefs and 11 nuclear scientists, striking more than 900 targets across Iran. The operation, which began on June 13, was described as a strategic effort to cripple Iran’s nuclear capabilities and missile infrastructure.

According to the official, the opening strike severely damaged Iran’s aerial defenses, giving Israel a critical early advantage. The campaign reportedly neutralized Iran’s ability to enrich uranium to weapons-grade levels and disrupted its capacity to produce a nuclear weapon core.

Iran, which denies pursuing nuclear weapons, responded with missile barrages targeting Israeli military sites and cities. While Iranian authorities reported 627 deaths, including top commanders and civilians, Israeli officials stated that 28 people were killed in Israel during the conflict.

The war concluded with a U.S.-brokered ceasefire. In Tehran, massive funeral processions were held for the fallen, including high-ranking Revolutionary Guard leaders and nuclear scientists, underscoring the scale of the losses.

The long-term implications of the strikes remain uncertain, but Israeli defense leaders have signaled intentions to maintain air superiority and prevent Iran from rebuilding its nuclear and missile programs.

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