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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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Global Technology Outage Causes Major Disruptions Worldwide

 


A widespread technology outage on July 19, 2024, has caused significant disruptions across various sectors globally. The outage, primarily affecting Microsoft services, grounded flights, knocked banks and hospital systems offline, and took media outlets off the air.

The issue, which was not a result of a cyberattack, stemmed from a faulty update deployed by cybersecurity firm CrowdStrike. This update affected computers running Microsoft Windows, leading to cascading problems in airline communications, banking systems, and media broadcasting.

Airlines in the U.S., Europe, and Asia experienced severe delays as they lost access to check-in and booking services. Banks in South Africa and New Zealand reported outages in their payment systems, while hospitals and doctor’s offices faced challenges with appointment systems. Media outlets in Australia were pushed off air for hours.

Microsoft has been working to reroute impacted traffic to alternate systems to alleviate the issue and has observed a positive trend in service availability. However, the disruptions have highlighted the global dependence on a few key technology providers and the potential vulnerabilities in such a centralized system.

This incident underscores the critical need for robust contingency plans and diversified technology solutions to mitigate the impact of such widespread outages in the future.


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