Mine is going toward a $70,000 medical expense that is not covered by our medical system. :-( So much for planning and saving for 30 years hoping to retire before 65. :-(
The CRA put out a release today saying the average refund will be more than $1,400. Details in my blog:
Although I personally put it in the TFSA, in order to represent the demographic that doesn't use this board, I will report that my best friend invested his in "beer and hookers". I thanked him, on behalf of all of us savers, for stimulating the economy so that we didn't have to, and he informed me that we were welcome, and that it was his pleasure
Mine was pretty small so I splurged a little on a few toys for the cat and brunch out for me and my hubby. Then I put the rest into savings.
My husband had to PAY because he is self employed. But at least he's not giving the gov't a loan.
Ouch. Sorry to hear this
Originally Posted by Maltese
I just spent my tax refund (both of ours) on a new washer and dryer. The old ones were 28 years old, so it was time. Besides the usual discount I get from the retailer (since I always pay cash), I saved on the Ontario PST for the washer, as the ON government has some sort of energy bonus going on.
Just got my return yesterday.
I've already maxed out my TFSA so I'll be putting my return towards my Etrade account.
I was pleasantly surprised by the unusually large refund, so I get to do all of the following:
1) Max out TFSA
2) Use it as cashflow to buy a rather expensive plane ticket for the summer trip (I have the cash, but it's saved in a rather inconvenient place on purpose.)
3) Get a head start toward a major purchase that will take place in a year.