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19 minutes ago
- Yahoo
PM signals UK will help Gaza aid airdrop amid calls for Palestinian statehood
Sir Keir Starmer has suggested the UK will play a role in dropping aid into Gaza by air, as he faces calls from 221 cross-party MPs to recognise a Palestinian state. Israel said on Friday it will allow airdrops of aid by foreign countries into Gaza to alleviate starvation in the Palestinian territory. The Prime Minister said the UK will 'do everything we can to get aid in via this route'. Sir Keir meanwhile faces growing calls to recognise a Palestinian state immediately, amid mounting global anger over the starving population in Gaza. Some 221 MPs from Labour, the Conservatives, Liberal Democrats, SNP, Greens, Plaid Cymru, SDLP and independents, have signed a letter calling on the Government to take the step at a UN meeting next week. France's president Emmanuel Macron announced his nation would formally recognise Palestine at the UN General Assembly in September, leading UK politicians to question whether the British Government would follow suit. US President Donald Trump suggested Mr Macron's announcement 'doesn't matter' as he left America for a visit to Scotland. But Sarah Champion, the senior Labour MP who organised the letter by parliamentarians, said recognition 'would send a powerful symbolic message that we support the rights of the Palestinian people'. Other senior Commons figures who signed the letter include Labour select committee chairs Liam Byrne, Dame Emily Thornberry and Ruth Cadbury. Lib Dem leader Sir Ed Davey, as well as Tory former minister Kit Malthouse, and Sir Edward Leigh – Parliament's longest-serving MP – also signed it. The majority of those who have signed, 131, are Labour MPs. In a video statement released on Friday, Sir Keir made plain his desire for a ceasefire in the war. He said: 'I know the British people are sickened by what is happening. The images of starvation and desperation are utterly horrifying. 'The denial of aid to children and babies is completely unjustifiable, just as the continued captivity of hostages is completely unjustifiable.' Signalling the UK is willing to help get aid into Gaza via air, the Prime Minister added: 'News that Israel will allow countries to airdrop aid into Gaza has come far too late, but we will do everything we can to get aid in via this route. 'We are already working urgently with the Jordanian authorities to get British aid on to planes and into Gaza.' Children who need specialist medical treatment will be evacuated from Gaza to the UK, Sir Keir added. The Prime Minister also called for an international coalition to 'end the suffering' in Gaza, similar to the coalition of the willing aimed at helping Ukraine. Sir Keir had earlier responded to calls for the recognition of a Palestinian state, insisting such a move needed to be part of the 'pathway' to peace in the Middle East, which he and allies are working towards. He added: 'Recognition of a Palestinian state has to be one of those steps. I am unequivocal about that. But it must be part of a wider plan which ultimately results in a two-state solution and lasting security for Palestinians and Israelis.' In a statement released on Friday alongside the leaders of France and Germany, the Prime Minister urged Israel to stop restricting the flow of aid into Gaza. Charities operating in Gaza have said Israel's blockade and ongoing military offensive are pushing people there towards starvation, warning that they are seeing their own workers and Palestinians 'waste away'. The Prime Minister will meet the US president during his trip to Scotland, where he arrived on Friday evening. US-led peace talks in Qatar were cut short on Thursday, with Washington's special envoy Steve Witkoff accusing Hamas of a 'lack of desire to reach a ceasefire'. The deal under discussion is expected to include a 60-day ceasefire in which Hamas would release 10 living hostages and the remains of 18 others in phases in exchange for Palestinians imprisoned by Israel. Aid supplies would be ramped up and the two sides would hold negotiations on a lasting truce.
Yahoo
19 minutes ago
- Yahoo
India Trade Pact Nears, US Beef Floods In--What Investors Should Watch Next
Australia may be on the brink of deepening its trade ties with India, according to Trade Minister Don Farrell, who suggested a broader free trade deal could have been inked months ago if not for a timing clash with the May election. Speaking at the Lowy Institute, Farrell hinted that the delay was procedural, not political, and noted that his Indian counterpart is currently focused on high-stakes tariff talks with President Donald Trump's administration. The existing FTAsigned back in April 2022cut tariffs across most sectors, but left out sensitive Australian exports like chickpeas, dairy, and wheat. Farrell expects those gaps could be closed bit by bit, as part of a multi-stage rollout. Warning! GuruFocus has detected 7 Warning Signs with TSN. That optimism is surfacing just as India finalizes a major agreement with the UK and bilateral trade with Australia hits nearly A$50 billion ($32.9 billion) in 2023. Farrell said the structure of a final deal with India is likely to be incremental, owing to political realities on both sides. Still, with Canberra actively seeking to diversify away from Chinaits top trading partnera more comprehensive agreement with India could be a meaningful next step. For investors eyeing agri-exporters, particularly in grains and dairy, the next phase of negotiations could shape longer-term access to one of the world's fastest-growing consumer markets. In a separate move with potential ripple effects, Australia just lifted all remaining restrictions on US beef importsa long-standing ask from the Trump administration. The announcement triggered a celebratory post from President Trump on TruthSocial, but Farrell was quick to tamp down the political narrative, stating the decision was based on science and years of internal review. We haven't done this to win favorwe think the Americans should trade with us anyway, he said. Whether this opens the door to a broader trade pact with the US remains to be seen, but the development is unlikely to go unnoticed by investors in US meat giants like Tyson Foods (NYSE:TSN) or Brazil's JBS, both of which could stand to benefit from expanded market access. This article first appeared on GuruFocus.
Yahoo
19 minutes ago
- Yahoo
Wild ATO deductions called out as expert exposes tax 'grey area'
Depending on your area of employment, there is a range of tax deductions that could be available. The basic rule is that if you've incurred an expense as part of your job, you can claim it. For instance, if you're a taxi driver, you can claim fuel for your car. If you're a tradie, you can likely claim a deduction for an array of essential tools. Such examples are relatively straightforward and obvious, but with tax being something of a grey area for many, it is inevitable that some of the claims tax specialists encounter aren't always of the typical variety. Here are some of the examples that H&R Block has encountered. RELATED ATO's urgent warning to tradies over 'growing' tax trend FIFO worker's huge compensation win after being unfairly sacked Tradie loses $449,000 in an instant after missing key detail TV star's op shop gifts Each time a certain high-profile television personality graced our screens, he bought a new suit. Once he'd worn each suit, he gave it away to a charity shop. Not only did he want to claim a tax deduction for the cost of each new suit (which he said he was obliged to wear to maintain his personal brand), he also wanted to claim a further tax deduction for the donation to charity. Sadly for him, the ATO doesn't allow deductions for the cost of conventional clothing, a category that includes business suits, even those purchased by TV stars. As for the donations — well, in theory, a donation to a charity is tax-deductible, but what is the value of a second-hand suit? Our dapper star couldn't say because he didn't have receipts from the charity, and without a receipt, there is no possible surgery and tax Still with the rich and famous, a well-known fashion model had undertaken various cosmetic procedures to maintain her appearance. She argued that the work done was to maintain her career past the point that it would otherwise have faded out if she hadn't had the work done. As such, she argued there was a clear link between the cosmetic surgery and deriving her income. It's an argument that seems superficially compelling, but it's not one the ATO would agree with. As far as they are concerned, medical procedures are rarely, if ever, tax-deductible, no matter what the reason. Taxable boob job? Taxpayers in the adult entertainment industry can claim all manner of interesting deductions. Taxpayers in the US — but not here — have even claimed that breast enhancements could be tax-deductible as a 'tool of the trade' (not an argument that would find favour here, following the same logic as the cosmetic surgery for the model, above). So, it's a controversial claim even for adult performers but the lady — with no known connection to the adult industry — who tried to claim that her enhancements were necessary for work was facing even more of an uphill battle. The claim wasn't allowed. Breast enhancements might be a tax no-no, but adult performers can look at successfully making claims for items as diverse as dance lessons, hair care, oils, lingerie, costumes and 'toys'. Work clothes that can be taxed Another profession that can generate some very strange tax deductions is a circus performer. Not many people can successfully make a claim for a clown costume, but one client who did was a professional clown. The whole costume was allowable, including the red nose, as a work-related clothing claim. Similarly, the professional sword swallower was able to claim the ceremonial swords used in his act. Deductions for pets? Can you claim a tax deduction for your dog? In very limited circumstances, yes you can, both for the cost of acquiring the animal (the cost is depreciated over several years) and for the costs of keeping it (food, vet bills, etc). The two most common scenarios where the cost of a dog is tax-deductible are farming (where an animal might be used to round up sheep, for instance) and security (where the cost of a guard dog to patrol business premises might be allowable). Other than that, forget it. So, for the taxpayer who tried to claim for their pet poodle, no deductions were allowed. Claiming the daily commute Lots of people try to claim for the cost of traveling from home to work and back again. Usually, they are unsuccessful because the daily commute is regarded as private — not work-related — travel and hence not claimable. The only exception is where you're required to carry bulky tools and equipment and you have nowhere secure at work to store them. That exception didn't apply to the hairdresser who tried to claim the daily commute because she had to transport her scissors and clippers, which might have been sharp but certainly weren't bulky. When you can claim on a caravan Caravanning is a popular leisure pursuit among the 'young at heart' but is it possible to claim your caravan as a tax deduction? Surprisingly, the answer might be yes. One taxpayer who travelled extensively for work decided to buy a caravan to provide overnight accommodation whilst working away, rather than paying for a hotel room every night. From a tax point of view, that stacks up to be deductible. But if you are in the same situation and also use the caravan for holidays, you'll need to apportion the deduction between work use and private use. People who can claim gym memberships A very limited number of taxpayers can claim gym memberships. Amongst those who can are professional sportspersons, some police officers and some defence force personnel. Bouncers aren't on the list, so for the bouncer who wanted to claim his martial arts course fees, no deduction was allowed. Garden feature on tax Do you own a rental property? In among the usual deductions — mortgage interest, rates, repairs, etc — did you know that you can claim for items that improve your property's 'street appeal'? Whether you think garden gnomes do that or not is really a matter of personal taste, but several clients have successfully claimed them in respect of their rental property. Here's a tip — make sure the gnomes are actually for your rental property; if they turn up in the garden of your family home, they are not deductible! Thinking of claiming these? Don't — they're not deductible! Personal grooming (hair, make-up, etc) Child care Gym memberships and other club memberships Cost of attending social functions Driver's licence Fines Glasses and contact lenses Rent, mortgage and other 'ownership' costs when working from home 'Conventional' clothing Business suits Retail staff in clothing outlets Home to work travel With the exception of where you are required to carry bulky tools Undertaking incidental work related tasks on the way to or from work (eg, collecting the mail) won't make the journey deductible! Medical expenses (IT 2217) eg, sleep apnea machines, hearing aids, wheelchairs, artificial limbs What can I claim? Depending on your job, you might be eligible to claim the following: Bags, briefcases, etc Conferences, seminars and training courses Fares Fees for tax advice/preparation First-aid courses by a designated first-aid person Insurance of work-related equipment Overtime meal expenses Parking fees (eg, if visiting clients) Professional association fee Personal protective equipment (masks, sanitiser, etc) Self-education expenses directly connected with current employment (includes fees, travel, books and equipment) Specialist publications (not newspapers) Sun protection (if you work outside) Stationery used for work-related purposes Technical and professional publications Travel, accommodation and meals when traveling for work Work-related clothing Work-related car useError in retrieving data Sign in to access your portfolio Error in retrieving data
