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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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Interprovincial Tensions Rise as Hodgson Meets Eby in B.C.

                                      Federal Energy Minister Tim Hodgson
 

British Columbia Premier David Eby welcomed Ontario’s Energy Minister Todd Hodgson in Vancouver this week, as the political and economic ripple effects of Alberta’s recent energy deal continue to spread across provincial borders.

The Alberta agreement, which critics say undermines regional cooperation on energy pricing and distribution, has prompted concern among other provinces about its long-term impact on national energy strategy. Hodgson’s visit to B.C. signals Ontario’s intent to strengthen ties with British Columbia and coordinate responses to Alberta’s move.

Discussions between Hodgson and Eby reportedly focused on shared priorities such as clean energy investment, interprovincial trade, and ensuring fair competition in the energy market. While no formal agreements were announced, both leaders emphasized the importance of collaboration in navigating the shifting landscape of Canada’s energy sector.

Observers note that the meeting underscores growing interprovincial tensions, with provinces increasingly seeking alliances to counterbalance Alberta’s assertive energy policies.

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