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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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U.S. Confirms Strike on Venezuelan Dock Amid Anti‑Drug Campaign

A US Air Force Boeing C-5 Galaxy is parked at José Aponte de la Torre airport in Ceiba, Puerto Rico, as US President Donald Trump sends fighter jets to the Caribbean island as part of his war on drug cartels.



The United States has carried out a strike on a dockside facility in Venezuela that President Donald Trump says was used to load boats involved in drug trafficking. Speaking to reporters in Florida, Trump described a “major explosion” at the site, calling it a key point where vessels “load up with drugs” before departing the country.

The president first referenced the operation during a radio interview days earlier, suggesting the strike occurred two nights prior. While Trump emphasized that the U.S. “hit them very hard,” he declined to specify whether the attack was conducted by the military or intelligence services, nor did he identify the exact location of the facility.

If confirmed, the strike would mark the first known U.S. land operation in Venezuela since Washington intensified its pressure campaign on President Nicolás Maduro’s government. The action follows a series of U.S. strikes on alleged drug‑smuggling boats in the Caribbean and eastern Pacific in recent months.

Venezuelan authorities have not publicly confirmed the incident, and U.S. officials have released no additional details. The lack of clarity leaves open questions about the scope of the operation and its implications for already strained U.S.–Venezuela relations.


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