US / Canada: resident & tax treaty

[fds2]

We are each long-time US and Canadian citizens.

We have been resident in Canada for 3+ years filing Canadian taxes and using the tax treaty to offset US taxes (which are less). Most of our financial assets are in the US with a significant amount being in cash brokerages (not IRAs).

For personal (family and other) reasons, we are considering moving back to the US for several years, before moving back to Canada.

Reading CRA web documents for deemed capital gains disposition, is the following:
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Certain properties are excluded from this calculation and should not be included in the list.
4. property you owned when you last became a resident of Canada (or property you inherited afterward) if you were an individual who was a resident of Canada for 60 months or less during the 10-year period before you emigrated and you are not a trust
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Can someone confirm that we have to pay capital gains disposition on just the financial assets since we were officially residents )i.e. less than 60 months ago)?

[nelsona]

Any property/investment that you owned PRIOR to moving to canada, is exempt from deemed disposition on departure from Canada, if you have lived in Canada for less than 60 months.

So only those acquired DURUNG your time in Canada would be subject to deemed disposition.

[fds2]

thank you for the confirmation