[hyperbovine]

There is also a capital gains penalty (15% of net gain) when you sell an investment property.

[kspaans]

You pay capital gains tax on all capital assets you sell, with the notable exception of your primary residence. There is no reason to call it a "penalty".

[hyperbovine]

You can exclude the tax under certain ownership conditions even if it is not your primary residence. Tomāto tomăto.