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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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Israeli Minister Floats Gaza Annexation Amid Stalled Ceasefire Talks

 

                                            Palestinians carry aid supplies that entered Gaza through Israel Wednesday                                             in the northern Gaza city of Beit Lahiya.

Amid growing international pressure and a worsening humanitarian crisis in Gaza, Israeli Security Cabinet member Zeev Elkin has suggested that Israel may consider annexing parts of the territory if Hamas continues to resist ceasefire negotiations. The proposal, aired during a public broadcast, is seen as a strategic move to pressure Hamas into surrendering and releasing hostages still held in Gaza.

Elkin stated that “losing lands” would be the most painful consequence for Hamas, implying that territorial loss could serve as a powerful bargaining chip. The remarks come as ceasefire talks have stalled, with both sides blaming each other for the impasse. Israel has reportedly warned Hamas that failure to accept current proposals could lead to punitive measures, including annexation of Gaza’s outer perimeter.

This development follows announcements from the UK and France that they will recognize a Palestinian state in September unless Israel agrees to a ceasefire and improves humanitarian conditions. Israel has condemned these moves, arguing that they reward Hamas for its October 2023 attack and undermine efforts to secure peace.

Meanwhile, the humanitarian situation in Gaza continues to deteriorate, with reports of hunger-related deaths and mounting global concern over potential famine. The annexation threat adds a new layer of complexity to an already volatile conflict, raising alarms among Palestinian leaders and international observers who fear long-term implications for regional stability and the viability of a two-state solution.

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