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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. Considers 15‑Year Security Pact for Ukraine in Emerging Peace Proposal

                                                 Donald Trump shakes hands with Volodymyr Zelensky.

The United States has offered Ukraine a 15‑year security guarantee as part of a broader peace framework aimed at ending the war with Russia, according to Ukrainian President Volodymyr Zelensky.

Zelensky described the proposal as a meaningful step but emphasized that Ukraine is seeking a longer-term commitment, ideally spanning 30 to 50 years, to ensure lasting protection against future Russian aggression.

The discussions took place during Zelensky’s meeting with U.S. President Donald Trump at Mar‑a‑Lago, where both sides reviewed potential terms for a negotiated settlement. While Washington has expressed optimism that the two countries are closer to an agreement, several major issues remain unresolved — including the status of Russian forces and the future of the Zaporizhzhia nuclear power plant.

Zelensky reiterated that credible, long-duration security guarantees are essential for any sustainable peace. He warned that without them, the conflict risks reigniting even if a temporary deal is reached.

Negotiations are ongoing, and both sides acknowledge that the path to a final agreement remains complex.

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