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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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Israel Strikes Hezbollah Targets Deep Inside Lebanon: Escalating Tensions and Aerial Confrontations

In a significant escalation of hostilities, the Israeli Air Force carried out rare strikes on targets deep inside Lebanon. These strikes, which occurred on Monday, have raised concerns and revived tensions in the region. Here are the key details:

  1. The Strikes: Israeli warplanes targeted locations associated with the militant Hezbollah group within Lebanese territory. The strikes were notably deep into Lebanon, near the northeastern city of Baalbek. Residents reported explosions, and at least two people lost their lives in the attacks.

  2. Hezbollah’s Response: The Israeli strikes came shortly after Hezbollah claimed to have shot down an Israeli drone using its air defense system. This incident further heightened the already tense situation along the Lebanon-Israel border.

  3. Context: These strikes mark some of the deepest Israeli military actions within Lebanon since the onset of the Israel-Hamas war more than four months ago. The conflict has been ongoing, and the recent events underscore the volatility of the region.

  4. Cease-Fire Talks: Interestingly, these strikes occurred just a day after Israel’s Defense Minister, Yoav Gallant, vowed to intensify attacks on Hezbollah, even if a cease-fire is reached with Hamas in the Gaza Strip.

As the situation unfolds, the international community closely monitors developments in the Middle East. The delicate balance between regional powers remains precarious, and any further escalation could have far-reaching consequences.


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