Australian - I've been trading USDT futures lately and come to understand that If I set up as a business, I can consider every purchase of a futures contract the same as trading stock and consider the profits as regular income tax .e.g. I buy $1000 in a contract, sell it and make $1200 I get taxed on the $200.
Now in order to pay the tax, I need to sell the USDT and convert it into fiat. Would I then have to pay Capital gains tax on that, as well as the already regular income tax on the $200?
If so, any way around this?
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