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Originally Posted by ken0042
I guess my thinking is that given the amount of the investment (in the $100's) and the fact that he will be my godson, if I have to pay $20-30 per year in tax; I am not all that worried. The intent here is to give him something cool (being able to say he is a part owner in Disney); and also something that can be used in the future for his education.
And bizaro- paying $50 for the certificate isn't bad. The onestock people want $40; and I still question if that stock is legitimate or not. There's no point in doing this if he can't cash it in at some point.
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Quote:
Originally Posted by bizaro86
A) If you give one share of Disney to a kid and they hold it for 20 years, I wouldn't worry about the tax ramifications, personally
B) I'm pretty sure any discount broker would open up a self-directed RESP, which you could use to buy stock. Be careful here, as there may be account administration fees for low dollar amounts. Maybe ask the parents if they're thinking of doing this anyway, and contribute $100 to get it started off. Big plus here is the gov't matching funds.
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I wasn't trying to convince to do anything else or anything. Just pointing this out for informations sake for the most part. The RESP would be the best because in Alberta you get the 20% federal grant and the province gives you $500 as well, so for $100 you have an account at $620....