St. Elias Mines

In Canada, anyone may contribute to an Individual Registered Education Savings Plan (RESP) in the name of a child, up to age 17. The federal government's Canadian Education Savings Grant (CESG) will match 20% of the first $2,000/year contributed to a qualifying child's RESP.

The content restrictions are the same as for an RRSP account, so SLI shares would certainly qualify. The income from the RESP is taxed in the hands of the child, whose income is usually low.

This may be an interesting way for some of you to purchase shares as a gift for the children of family and/or friends -- and get the goverenment to chip in to buy some, too!

PS: Remember to set up the RESP with a legitimate bank or investment company; avoid the scammy "Scholarship Trust" RESP companies (besides, you cannot invest in stocks within those plans). If you are planning on investing for a non-related child, you must use an "Individual" RESP plan; some institutions only deal in "group" RESP plans, which can only be contributed to by blood relatives.