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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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Kremlin Signals Tougher Stance After Alleged Attack on Putin Residence

                                            President Vladimir Putin



Russia has warned that its negotiating position on Ukraine will harden after accusing Kyiv of attempting a drone strike on a residence associated with President Vladimir Putin. Moscow claims the alleged attack involved dozens of long‑range drones, all of which were intercepted before causing damage.

Kremlin officials framed the incident as a deliberate attempt to undermine ongoing diplomatic efforts. They argued that such actions leave “no room for flexibility” in future negotiations.

Ukraine has firmly rejected the accusation, calling it a fabricated pretext for further escalation. Ukrainian leaders argue that Russia is using the claim to justify intensifying military pressure and to shift blame for stalled peace discussions.

The exchange comes at a sensitive moment, with international mediators pushing for renewed dialogue. With Moscow now signaling a more rigid posture, the path toward meaningful negotiations appears increasingly uncertain.

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