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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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Putin Rejects Talks With Ukraine’s ‘Illegitimate’ Leadership

 

                                            Russian President Vladimir Putin

Russian President Vladimir Putin has declared that it is “senseless” to sign any agreements with Ukraine’s current leadership, which he labeled as illegitimate. Speaking at a summit in Bishkek, Kyrgyzstan, on November 27, 2025, Putin argued that Kyiv lost its legitimacy after failing to hold elections once President Volodymyr Zelenskyy’s elected term expired. According to Putin, this undermines any potential negotiations or peace documents that might be signed with Zelenskyy’s government.

Ukraine, however, maintains that elections cannot be conducted under martial law while the country is actively defending itself against Russia’s ongoing invasion. Kyiv insists that postponing elections is a constitutional necessity during wartime, and that Zelenskyy remains the legitimate head of state until conditions allow for a vote.

Putin’s remarks highlight a widening gap between Moscow and Kyiv on the question of legitimacy and negotiation. While Russia frames Ukraine’s leadership as unconstitutional, Ukraine and its Western allies argue that martial law provisions justify the delay in elections. This dispute complicates prospects for peace talks, as Moscow signals it will not recognize agreements signed by Zelenskyy, while Kyiv insists its government remains valid and internationally recognized.

The statement underscores the broader geopolitical struggle: Russia seeks to delegitimize Ukraine’s leadership to weaken its negotiating position, while Ukraine continues to rally international support by emphasizing its right to self-defense and sovereignty. For now, Putin’s refusal to engage with Zelenskyy directly casts further doubt on the possibility of meaningful negotiations in the near future.

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