Start a conversation about how people spend their tax refunds and someone will inevitably chime in with a comment about how getting a refund suggests you’ve failed to plan properly. Refunds mean you’ve overpaid your taxes and thus lent money interest-free to the government.
Still, the results of an informal survey of readers I conducted online suggests tax refunds perform a useful purpose in providing people with a lump sum of money every spring. The majority of people who responded to the survey said they would invest their refund in their RRSP or TFSA, which is not surprising. People who […]
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