You can open up a RESP and name the child as the beneficiary. It's perhaps the cleanest option because there are no tax issues.For Xmas this year, I am looking to buy a stock or two for my niece who is 10 years old. I'd like to buy a stock like Tim Hortons, a Canadian bank stock, or some other Canadian company stock. If they offer dividends, all the better. Does anyone know how I would go about doing this? Would I just buy a stock, get a certificate and give the certificate? Should I open an RESP for them and buy it through that (perhaps giving them more every year)? Any other ways to do something like this?
The closest thread I could find on this was http://canadianmoneyforum.com/showthread.php?t=761. I didn't have any luck finding any good instructions for Canadians on google.
You can also buy stocks and give your niece the stock certificate. Check out
for more information on how you can go about getting stock certificates. There is a tax issue here though. All dividends will be attributed to you and taxed in your hands.
I've never done either of this myself, so other posters might want to chime in.