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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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Carbon Below: Southwestern Ontario Weighs Risks of Underground CO₂ Storage

                                           Minister of Natural Resources Mike Harris 


The Ontario government’s proposed Geologic Carbon Storage Act, 2025 is stirring debate in Southwestern Ontario, where residents are wary of the environmental and safety implications of storing carbon dioxide deep underground. The legislation, part of the broader Resource Management and Safety Act, 2025, would create a regulatory framework for capturing and permanently storing CO₂ in geological formations.

Supporters argue the move could help industries cut emissions by 5–7 million tonnes annually, create thousands of short-term jobs, and save Ontario businesses nearly $1 billion a year. The province says the framework will include strict safety measures, phased implementation, and collaboration with Indigenous communities, municipalities, and industry stakeholders.

However, some Southwestern Ontarians remain skeptical, citing concerns over potential groundwater contamination, seismic activity, and the long-term monitoring of storage sites. Environmental advocates are calling for more public consultation and independent risk assessments before large-scale projects proceed.

The government maintains that geologic carbon storage is a key tool in meeting climate targets while supporting economic growth — but in communities closest to proposed sites, the question remains whether the benefits outweigh the perceived risks.


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