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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 Declares 100% Tariff on Foreign-Made Films, Sparking Industry Uncertainty

 

                                           The Hollywood sign is seen in Hollywood.


U.S. President Donald Trump announced that his administration will impose a 100% tariff on all movies produced outside the United States, a move that has sent shockwaves through Hollywood and the global film industry.

Posting on his Truth Social account, Trump argued that America’s film business has been “stolen” by foreign countries offering lucrative tax incentives to lure productions abroad. He singled out California as being “particularly hard hit,” despite the state’s own incentive programs aimed at keeping productions local.

Industry experts warn that such a tariff could be nearly impossible to enforce, given the complex, international nature of modern filmmaking. Many U.S. blockbusters are partially shot overseas, raising questions about whether they would also be subject to the levy.

Critics say the policy could backfire, driving up costs for American studios and potentially triggering retaliatory tariffs from other countries. With international markets accounting for more than 70% of Hollywood’s box office revenue, the measure could disrupt a business model that heavily relies on global audiences.

While Trump has not specified when or how the tariffs would take effect, the announcement underscores his broader protectionist trade agenda. For now, the film industry is bracing for what could be one of the most disruptive policies in its history.


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