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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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Fatal Fire Claims Life at North York Retirement Residence

                The fire started around 10:20 p.m. on Sunday at a residence on Finch Avenue West.

A man has died following a fire that broke out inside a North York retirement home late Sunday evening. Emergency crews were called to the residence after reports of smoke and flames coming from one of the units. Firefighters were able to contain the blaze quickly, but one male resident was found unresponsive inside.

Paramedics attempted life‑saving measures, but the man was pronounced dead at the scene. Other residents were safely evacuated, and no additional injuries were reported.

Investigators are now working to determine the cause of the fire. Officials say there is no immediate threat to the public, and the building has since been deemed safe for residents to return to unaffected areas.

The victim’s identity has not yet been released as authorities notify next of kin.


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