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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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Russia Claims Strategic Victory in Chasiv Yar After Grueling 16-Month Battle

 

                                            Combat medics treat injured Ukrainian servicemen inside a medical stabilization point near                                                          the frontline town of Chasiv Yar in Donetsk region

After nearly 16 months of relentless combat, Russia has announced the capture of Chasiv Yar, a strategically significant town in eastern Ukraine. The Russian Defense Ministry declared the town “liberated,” marking a potential turning point in its campaign to push deeper into the Donetsk region.

Chasiv Yar, once home to over 12,000 residents, now lies in ruins. The battle began in April 2024, with Russian paratroopers reaching its eastern edge. The town’s terrain—marked by forests, waterways, and hills—favored Ukrainian defenders, allowing them to hold out for over a year despite intense pressure.

While Russia claims full control, Ukrainian sources dispute this, asserting that parts of the town remain contested. A video verified by Reuters shows Russian troops raising their flag in the devastated center, but Ukrainian officials call the announcement “propaganda”.

Military analysts warn that the fall of Chasiv Yar could pave the way for Russian advances toward key cities like Kostiantynivka and Pokrovsk. The loss also threatens Ukrainian logistics and drone defense capabilities in the region.

As the war grinds on with no ceasefire in sight, the capture of Chasiv Yar underscores the brutal, incremental nature of Russia’s eastern offensive—and the mounting challenges facing Ukraine’s defense.

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