Any financial advisor I know of is going to tell you that you should put this into a high interest savings account or a GIC. Not that these are going to beat inflation (although at this point inflation is not a huge concern).
Thing is that you might be able to invest it and get a better return, but there is a risk associated with that. One year is not long enough term to know that on May 1st next year you will have a set amount of money to use as you see fit.
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