diff --git a/src/basic/Matrix.js b/src/basic/Matrix.js
index 939e4863..31704908 100644
--- a/src/basic/Matrix.js
+++ b/src/basic/Matrix.js
@@ -414,7 +414,7 @@ var Matrix = this.Matrix = Base.extend(/** @lends Matrix# */{
 	 * point and finding the new bounding box to these points. This is not
 	 * really the transformed reactangle!
 	 */
-	_transformBounds: function(bounds) {
+	_transformBounds: function(bounds, dest, dontNotify) {
 		var coords = this._transformCorners(bounds),
 			min = coords.slice(0, 2),
 			max = coords.slice(0);
@@ -426,8 +426,10 @@ var Matrix = this.Matrix = Base.extend(/** @lends Matrix# */{
 			else if (val > max[j])
 				max[j] = val;
 		}
-		return Rectangle.create(min[0], min[1],
-				max[0] - min[0], max[1] - min[1]);
+		if (!dest)
+			dest = new Rectangle(Rectangle.dont);
+		return dest.set(min[0], min[1], max[0] - min[0], max[1] - min[1],
+				dontNotify);
 	},
 
 	/**
diff --git a/src/item/Item.js b/src/item/Item.js
index 90fb0830..7ef28f21 100644
--- a/src/item/Item.js
+++ b/src/item/Item.js
@@ -1699,8 +1699,13 @@ var Item = this.Item = Base.extend(Callback, /** @lends Item# */{
 		// and transform the cached _bounds and _position without having to
 		// fully recalculate each time.
 		if (bounds && matrix.getRotation() % 90 === 0) {
-			this._bounds = this._createBounds(
-					matrix._transformBounds(bounds));
+			// Transform the old _bounds without notifying it of changes
+			this._bounds = matrix._transformBounds(bounds, bounds, true);
+			// Update _position again, by linking it to _bounds
+			// TODO: If LinkedPoint would not just sync writes, but reads too,
+			// we could do this: this._position = position;
+			// This is a bug currently in Paper.js, that should be fixed, but
+			// can only really be handled properly using versioning...
 			this._position = this._bounds.getCenter();
 		} else if (position) {
 			// Transform position as well. Do not notify _position of
diff --git a/src/text/PointText.js b/src/text/PointText.js
index d059ba77..73f172fb 100644
--- a/src/text/PointText.js
+++ b/src/text/PointText.js
@@ -129,7 +129,7 @@ var PointText = this.PointText = TextItem.extend(/** @lends PointText# */{
 			// rough guess
 			var bounds = Rectangle.create(x, leading / 4 + (count - 1) * leading,
 					width, -count * leading);
-			bounds = this._matrix._transformBounds(bounds);
+			this._matrix._transformBounds(bounds, bounds);
 			// TODO: Only cache if no matrix is provided
 			this[cacheName] = bounds;
 			return getter == 'getBounds' ? this._createBounds(bounds) : bounds;