June 2015 Monthly Accounts

These are the preliminary accounts for June. The main thing that might change are tax credits, which are estimated at the moment. Markets were down, especially in Australia, and as a result investment income was a negative $63k (Australian Dollars) and as a result net worth declined $58k. Salaries came to $13.8k which is what they are in a two payday month with no reimbursements. Retirement contributions were also the normal $3.2k. We spent $11.3k not including mortgage payments and $7.7k not including business expenses. But due to the business expenses and mortgage payments there was negative saving on the current account, offset by positive saving on the retirement and housing accounts. Tax credits, mainly associated with the end of financial year managed fund distributions are estimated as $2,800. These reduce tax payable on a 1:1 basis. We paid $1945 in mortgage interest, saving $350 in interest due to cash in our offset account. Transfer to housing adds that nominal saving, which we count as an investment return, to the actual mortgage payment to balance the accounts.