As per CRA (Canada Revenue Agency),
Receiving a larger than expected tax return means that more of your money was collected for income taxes than necessary. Careful tax planning can help ensure that you send only the amount necessary in advance tax payments.
Some people like to think of the tax refund as a type of savings plan. If you receive a tax refund, save it—or at least most of it. It's money you have not spent through the year, so use it to pay down debt or add to your investments. And save at least as much in the next year, even if you can cut back your tax deductions or instalments.
For full information view link below:
https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-3/8.html
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