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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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Partisan Divide Deepens as U.S. Shutdown Deadline Approaches

A view of the U.S Capitol dome in Washington one day ahead of a Sept. 30 deadline to fund the government and avoid a shutdown.

With just hours left before government funding expires, Republicans and Democrats remain locked in a bitter standoff that threatens to trigger a partial U.S. government shutdown.

At the heart of the impasse are competing priorities: Democrats are demanding the extension of health care subsidies and the reversal of recent Medicaid cuts, while Republicans are pushing for a short-term funding bill that maintains current spending levels without additional provisions.

President Donald Trump met with congressional leaders from both parties at the White House on Monday, but the talks ended with little sign of compromise. Senate Democratic Leader Chuck Schumer described “very large differences” between the two sides, while Republican leaders accused Democrats of holding government funding “hostage” over health care demands.

If no agreement is reached by midnight Tuesday, federal agencies will begin shutting down, nonessential employees will be furloughed, and key economic data releases—including the September jobs report—will be delayed. The looming shutdown would mark yet another chapter in a long history of partisan brinkmanship, with both sides bracing for public backlash.


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