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Canadians choose to travel with tax refund

- May 3rd, 2012

 

If you had no other monetary obligations, would you spend your tax return on your dream trip? (Shutterstock)

 

If Canadians had the luxury to choose between using their tax return to pay down debt or blowing the whole thing on a vacation, they’d be hopping on the next plane out of town.

This is according to a new survey from travel provider Expedia.ca that asked 1,004 Canadians what they would do with money from their tax return in an ideal world where RRSP contributions and debt just don’t exist.

Fifty-one per cent of Canadians surveyed said they would book a vacation over buying clothing, fancy dinners or other big-ticket items.

Of those respondents, 25% said a beach in Mexico or the Caribbean would be their top destination, while 22% said you could find them travelling Europe with their refund. Seventeen per cent of respondents said they’d travel more of Canada, while another 16% said they’d head Stateside.

Canadians from B.C. and Alberta were most likely to say they’d travel with their tax refund if they had no other responsibilities, with 63% and 55% of respondents in each respective province looking for sun and sand. Quebeckers were the least likely to use their tax return for travel at 39%.

In 2011, the Canada Revenue Agency said the average tax refund for Canadians was $1,506.