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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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Escalating Tensions: Strikes on Militant Leaders Threaten Middle East Stability

 

In a dramatic escalation, the recent targeted strikes on two senior militant leaders have heightened tensions in the already volatile Middle East. The assassination of Hamas’ top leader Ismail Haniyeh in Tehran and the strike against senior Hezbollah commander Fouad Shukur in Beirut have sent shockwaves through the region.

These strikes, attributed to Israel, come at a critical juncture as international mediators strive to broker a cease-fire between Israel and Hamas to end the ongoing conflict in Gaza. The killing of Haniyeh, a key figure in the cease-fire negotiations, has cast a shadow over these efforts. A senior Egyptian official involved in the talks described the assassination as a “reckless act” that could derail the fragile peace process.

Iran’s response to the attack on its territory has further complicated the situation, with threats of retaliation that could potentially lead to a broader conflict. The international community, including the U.S., Egypt, and Qatar, has condemned the strikes and urged for restraint to prevent further escalation.

The impact of these events on the ground is palpable. In Gaza, there is a growing sense of despair as hopes for a cease-fire wane. “By assassinating Haniyeh, they are destroying everything,” said Nour Abu Salam, a displaced Palestinian.

As the region teeters on the brink, the need for diplomatic intervention and a renewed commitment to peace has never been more urgent. The coming days will be crucial in determining whether the Middle East can avoid descending into further chaos.


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