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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 Airstrike in Sanaa Kills Houthi Prime Minister Ahmed al‑Rahawi

 

Houthi fighters join protesters, as they demonstrate to show support to Palestinians in Gaza at Sabeen Square in Sanaa, Yemen


The Iranian‑backed Houthi movement has confirmed that its prime minister, Ahmed al‑Rahawi, was killed in an Israeli airstrike on Thursday in the Yemeni capital, Sanaa. Several ministers also died in the strike, which targeted a government workshop reviewing the administration’s performance over the past year.

The Israeli military said it had “precisely struck a Houthi terrorist regime military target” in Sanaa. The attack comes amid escalating hostilities, with the Houthis repeatedly launching missiles and drones toward Israel and targeting shipping in the Red Sea in what they describe as solidarity with Palestinians during the war in Gaza.

Earlier in the week, Israeli strikes on Sanaa killed at least 10 people and wounded over 100, according to Houthi‑run health authorities. The death of al‑Rahawi, who had served as prime minister since August 2024, marks a significant blow to the rebel‑controlled government and could further inflame tensions in the region.


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