How in Gods name is it the end of June already?
Each year seems to be going quicker and quicker I swear.
There is only one thing of concern as we approach the accountants Christmas…
Get your franking credits and negative gearing hats out to take a little back from the ATO.
This will be my first year doing a return with ETFs so I’m looking forward to seeing what is involved. Franking credits are a great way to reduce your taxable income to claim more come tax time. I hold one ETF that has franking credits and that is ASX: VAS.
VAS is made up of Australian companies which makes sense since franking credits are designed to stop double taxation.
I don’t get why people put off doing their tax return. Or some that don’t even do it at all (which is illegal).
You’re getting money from this people (sometimes you owe money but most don’t)!
I always to try to complete my tax return asap so I can get the $$$.
We had a pretty good month to finish the financial year with the only real big ticket expense car rego and insurance.
It also worked out the June was a triple paycheck month which meant we received 50% more income which pushed us over the $10k mark.
Speaking of the $10k mark. This month is the 7th month in a row we have added at least $10k or more to our net worth!
We should be able to add around $6k each month from pure savings given our income and savings rate. So the last 7 months have been well and truly above our norm.
But we ain’t complaining!
Net Worth Update
Extra pay week, good savings, a little Super boost and I think ETFs stay the same if not went slightly down a little. We did buy another $5k chunk of ETFs this month as per usual.
No change in any of the properties for this month yet again. No movement for a while in this space. Could property be starting to cool in Australia???
Various data sources (RP data, Domain.com etc.) are used in combination of what similar surrounding properties were sold for to calculate an estimate. This is an official Commonwealth bank estimate and one which they use to approve loans.
ETFs went down around $1k this month 🙁 VAS was the only holding that actually made money with VTS and VEU losing value.