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With the tax-filing deadline coming up at midnight on Monday (the deadline is typically April 30, but that's a Saturday), it's worth looking at our national habit of consistently overpaying our income taxes and thus receiving a refund from the Canada Revenue Agency.

Although it feels great to get a refund, what's really happening is you're letting governments use your money interest-free every year.

If you consistently get a refund, see if your employer can slightly reduce the amount of income tax deducted from your paycheque. Aim to end up as close as possible to having zero balance – no refund coming, and no money owed to CRA.

That way, you'll have some extra money in your pocket throughout the year. Consider adding it to your tax free savings account or registered retirement savings plan, or using it to build an emergency fund.