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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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Washington Hosts Urgent Talks as Regional Powers Weigh Options on Iran

 

The aircraft carrier USS Abraham Lincoln and several guided-missile destroyers have crossed into the Middle East region.


Senior officials from Saudi Arabia and Israel traveled to Washington this week for high‑level discussions with U.S. leaders, reflecting growing concern over the possibility of military action against Iran.

Regional Coordination Intensifies

  • Israeli defense and intelligence representatives met with American counterparts to exchange assessments and outline potential operational scenarios.
  • Saudi officials focused on diplomatic avenues while also preparing for the possibility of broader regional instability.
  • U.S. officials engaged both delegations separately, aiming to prevent escalation while keeping military options on the table.

Why It Matters

The simultaneous visits underscore how seriously regional powers are taking the rising tensions. While Israel has signaled readiness for targeted strikes, Saudi Arabia has emphasized the need to avoid a conflict that could destabilize the Gulf.


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