Don’t Celebrate a Large Tax Refund- Eliminate it!
Every year, many Canadians celebrate the arrival of a tax refund. It feels like an unexpected bonus, a pleasant surprise among all the bills in the mail. In reality, however, a tax refund simply means that you paid the Canada Revenue Agency(CRA) too much tax throughout the year. You get your overpayment back as a tax refund, but until you deposit that cheque you are essentially making an interest-free loan to the government.