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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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Toronto Lights Up the Waterfront: New Year’s Eve Celebrations Set to Dazzle the GTA

 

Toronto is preparing for one of its most vibrant New Year’s Eve celebrations yet, with the city’s waterfront transforming into a massive outdoor festival to welcome 2026. Beginning at 10 p.m., the Harbourfront area will come alive with live music, DJ sets, roaming performers, and illuminated art installations stretching from Harbourfront Centre to Sherbourne Common.

The night’s biggest draw will be a 10‑minute fireworks display launched over the inner harbour, offering sweeping views from along the lakeshore. The show is designed to be visible from multiple waterfront vantage points, giving thousands of residents and visitors a chance to ring in the new year under a bright skyline.

Transit agencies across the region are stepping up to support the festivities. TTC, GO Transit, and UP Express will offer free rides from 7 p.m. on December 31 until 8 a.m. on January 1, with extended service to help crowds travel safely throughout the night.

Beyond downtown, communities across the GTA are hosting their own celebrations, from family‑friendly countdowns to upscale parties and late‑night events. With options for every age and style, the region is set for a lively and memorable start to the new year.


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