Calculate your Zakat

  • Cash and liquid investments

    Cash and liquid investments are fully subject to Zakat.

    If interest has been earned on your liquid investments, then it should be given to charity and only the principal amount should be noted for Zakat purposes.

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  • Gold and silver

    Gold and silver, in whichever form (jewellery, coin, ingot etc.) is subject to Zakat.

    If you own personal use items made from a mixture of metals, these are only liable to Zakat if half or more of the metal is gold or silver, although some scholars hold that the proportion of gold or silver in any owned asset is Zakatable. You can ascertain the current value of your gold by consulting your local jeweller.

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  • Shares, unit trusts and equity investments

    If shares are purchased with the express intention for resale then the entire holding is subject to Zakat. If however, shares are purchased as an investment to generate dividends, then as Zakat is only due on the Zakatable assets of the firm, a realistic attempt must be made to calculate the percentage of the shareholding relating to Zakatable assets.

    Any dividends received should be added to one’s cash balance for Zakat purposes.

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  • Property and other fixed assets

    The house in which you live is not subject to Zakat.

    If a property or another fixed asset has been purchased with the express intention to re-sell, then the entire value of the property is subject to Zakat. If there is any other intention, then it is not subject to Zakat.

    Any rental income from properties owned should be added to one’s cash balance for Zakat purposes.

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  • Pensions

    Zakat is payable in full on pensions received after retirement.

    For monies set aside for pensions prior to retirement, Zakat is only payable if the pension assets are being invested on behalf of the pension holder. If no such investment is being made, then Zakat is not payable. Please note if pension monies are able to be invested, care should be taken to invest in Sharia compliant investment, and the Zakat liability will be determined by the nature of the investment (property or shares etc as per points 3 and 4).

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  • Debts owed to you

    Zakat is payable on strong debts, i.e. money that is owed to you that you are confident will be paid.

    This may include business debts, personal loans to friends and family. This does not include outstanding wages, dowry, inheritance or assets held in trust (other than assets held under a Bare Trust).

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  • Business Assets

    Business assets are subject to Zakat.

    These include cash, finished goods, work in progress, raw materials and strong debts i.e. money owed to the business that is likely to be received.

    All business assets should be valued at their current market price. For finished goods, this should be the retail sale price. For unfinished goods, this should be whatever price you expect the unfinished good to fetch on your Zakat anniversary date.

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