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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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Canada Positions Itself at the Front of the Global Generic Ozempic Race

 

Weight-loss medication such as Ozempic and wegovy are captured in a pharmacy in The Hague, Netherlands on July 4, 2025.

Canada is emerging as a pivotal player in the rapidly intensifying global push to develop generic versions of Ozempic, the blockbuster diabetes and weight‑loss drug whose demand has surged worldwide. As patents begin to expire in the coming years, pharmaceutical companies are racing to secure early advantages—and Canada’s regulatory environment, manufacturing capacity, and scientific expertise are making it an attractive launch point.

Several Canadian firms are already investing heavily in research and production infrastructure to position themselves as early suppliers once generics are permitted. The country’s strong track record in biosimilars, combined with Health Canada’s relatively efficient approval pathways, gives domestic and international manufacturers a strategic foothold.

The global appetite for semaglutide‑based treatments continues to grow, driven not only by diabetes management but also by the explosive popularity of weight‑loss therapies. As a result, the first nations able to produce high‑quality, cost‑effective generics will gain significant economic and geopolitical influence in the pharmaceutical market.

Canada’s role as a potential launching pad signals a shift in how countries compete in the post‑patent era of high‑demand medications. If current momentum continues, the nation could become a central hub in the next major wave of global drug manufacturing and distribution.


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