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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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Trump Voices Support for Possible Israeli Action Against Iran

President Donald Trump shakes hands with Israel's Prime Minister Benjamin Netanyahu during a news conference at Mar-a-Lago, Monday, Dec. 29, 2025, in Palm Beach, Fla.

During a meeting with Israeli Prime Minister Benjamin Netanyahu at Mar‑a‑Lago, U.S. President Donald Trump signaled that he would back Israeli military action against Iran if evidence emerges that Tehran is rebuilding its nuclear or missile programs. Trump suggested that the United States could also take its own steps should Iran resume activities previously halted after earlier U.S. strikes.

The discussion came as the two leaders reviewed the next phase of the Gaza ceasefire plan, including the requirement that Hamas fully disarm before further progress can be made. Netanyahu emphasized Israel’s concerns about Iran’s regional influence and its potential nuclear ambitions, while Trump stressed that Washington and Jerusalem remain aligned in preventing Iran from advancing any weapons programs.

Both leaders framed the conversation as part of a broader regional security strategy involving Iran, Hezbollah, and developments in Syria, underscoring their shared commitment to countering threats in the Middle East.


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