Carnie's Comments


Did you get or are you getting an income tax refund this year? Millions of Canadians are.

The stats show over 16 million refunds have been issued up to this week with an average return of $2165.00.

A recent survey from CIBC found only about one in 10 Canadians will invest their tax refunds this year.

29% of us say we'll spend the money on essentials with 24% planning on paying down debt. Just 12% will invest the money and that, according to the big bank, was "the least chosen option".

The managing director and head of CIBC Investor's Edge says "more Canadians should consider investing their tax refund".  

Luka Marjanovic says, "...Canadians getting a lump sum this spring should consider the opportunity to put those funds to work for them as part of a broader investment plan" and holding on to our refund cash "may not be a good long-term strategy".

And, I wonder, when was the last time that guy went to the grocery store?