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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 Loses Appeal of FIFA Penalty in Olympic Drone Spying Scandal

 


In a significant setback for Canadian soccer, the Court of Arbitration for Sport (CAS) has dismissed Canada’s appeal against a six-point deduction imposed by FIFA. This penalty stems from a drone-spying scandal during the Olympic women’s soccer tournament in Paris 2024.

The controversy began when New Zealand lodged a complaint, alleging that Canadian staff used drones to spy on their training sessions before their opening match. Following an investigation, FIFA docked Canada six points and imposed one-year bans on head coach Bev Priestman and officials Joseph Lombardi and Jasmine Mander.

Despite winning both of their games, the point deduction leaves Canada with zero points in the standings. The CAS ruling, delivered just hours before Canada’s crucial match against Colombia, means the team faces an uphill battle to advance to the quarterfinals.

The Canadian Olympic Committee and Canada Soccer argued that the penalty was disproportionate and unfairly punished the athletes, who were not involved in the alleged cheating. However, the CAS upheld FIFA’s decision, emphasizing the importance of maintaining the integrity of the sport.

This ruling has significant implications for Canada’s chances in the tournament and underscores the serious consequences of violating fair play principles in international sports.


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