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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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Hostage Crisis Deepens as Hamas Reports Loss of Contact Amid Gaza Offensive

 

An Israeli tank maneuvers in Gaza, as seen from the Israeli side of the border, September 28, 2025.


Hamas’s armed wing, the Al-Qassam Brigades, announced Sunday that it has lost contact with two Israeli hostages as Israeli forces pressed deeper into Gaza City. The group blamed heavy bombardments and advancing tanks for severing communication, saying the captives’ fate remains unknown.

The development comes as the Israel Defense Forces (IDF) intensified operations in several Gaza City neighborhoods, including Sabra, Tel Al-Hawa, and Sheikh Radwan. The IDF reported striking more than 140 targets in the past 24 hours, while ordering civilians to evacuate from multiple districts.

Gaza’s health ministry said at least 77 Palestinians were killed in the latest wave of strikes, with emergency services warning that many residents remain trapped under rubble or cut off from aid.

Hamas called on Israel to halt its offensive for 24 hours to allow attempts to locate the missing hostages. Israeli officials have not publicly responded to the appeal.

Of the 251 hostages taken during Hamas’s October 7, 2023 attack, Israeli authorities say 48 remain in Gaza, with roughly 20 believed to be alive. The uncertainty surrounding their condition continues to weigh heavily on ongoing diplomatic efforts, as international mediators push for a ceasefire and renewed negotiations.


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