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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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Trump and Netanyahu Announce Gaza Peace Plan, Await Hamas Response

 

Israel's Prime Minister Benjamin Netanyahu shakes hands with President Donald Trump after a news conference in the State Dining Room of the White House, Monday, Sept. 29, 2025, in Washington.


U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu unveiled a joint plan they say could bring an end to the devastating war in Gaza, contingent on Hamas agreeing to the terms.

The proposal, released at the White House, outlines a 20-point framework that includes an immediate ceasefire, the release of all hostages within 72 hours, and the withdrawal of Israeli forces from Gaza once Hamas disarms. In exchange, hundreds of Palestinian prisoners would be freed, and Gaza would be placed under a transitional Palestinian-led administration overseen by an international “Board of Peace,” chaired by Trump and joined by figures such as former British Prime Minister Tony Blair.

Netanyahu hailed the plan as a “decisive step” toward peace, emphasizing that Israel would regain its hostages and dismantle Hamas’ military capabilities. Trump warned that if Hamas rejects the deal, Israel would have full U.S. backing to continue military operations.

Hamas negotiators, briefed on the plan by Qatari and Egyptian mediators, said they are reviewing the proposal “in good faith” and will issue a response soon.

The announcement comes amid mounting international pressure on Israel over the humanitarian crisis in Gaza, where tens of thousands of Palestinians have been killed and much of the territory reduced to rubble. Several Western nations have recently recognized Palestinian statehood, further isolating Netanyahu’s government on the global stage.

For now, the fate of the plan rests with Hamas — and whether it will accept terms that demand disarmament in exchange for reconstruction and international oversight.


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