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Zakat Calculator

1. Zakat on Pure Gold and Gold Jewellery

The calculation of Zakat of 2.5% should be based on the market value at the date of Valuation (ideally the 1st of Ramadan).

As of Wednesday 22 April 2020, The Price of Gold per gram is AUD$85.80

Weight (grams) Price (per gram) Estimated Value Zakat Payable
Gold/Jewellry
Other Gold Valuables (Please insert the Current Estimated Value)

2. Zakat on Silver

The calculation of Zakat on Pure Silver or Silver jewellery is 2.5% based on the market value at the date of Valuation (ideally the 1st of Ramadan).

As of Wednesday 22 April 2020, The Price of Silver per gram is AUD$0.75

Weight (grams) Price (per gram) Estimated Value Zakat Payable
Silver
Other Silver Valuables (Please insert the Current Estimated Value)

3. Zakat on Cash and Bank Balances

The calculation of Zakat is 2.5% for cash balances and should be on funds held in accounts for a full 12 months.

Estimated Value Zakat Payable
Cash in Hand
Cash in the Bank

4. Zakat on Loans Given and Shares Held

You are required to pay Zakat on all monies you have lent out to either family or friends. Loans are treated in the same manner as Cash (refer point 3 above). Any debts/loans you have outstanding should be deducted from any monies you have lent out to get your nett wealth.

Zakat is payable by you on loans you have given to your friends and relatives. It should be treated as Cash in Hand. You may deduct Loans Payable by you to arrive at the nett present value of your wealth.

2.5% Zakat is also payable on shares and other similar investments (e.g. Bonds, options, appreciating Collectables, Paintings etc), held for 12 months.

Estimated Value Zakat Payable
Monies lent to Family or Friends
Current Share Values
Any Other Investments

5. Zakat on Investment Property

Zakat is NOT payable on primary place of residence or any other property used for personal accommodation. Zakat is NOT payable on the net value of residential or commercial investment properties but on the rental returns of the properties less any outgoings.

Zakat is payable on the Nett sale value of any residential or commercial property if the intention of the investment was always to sell and make profit. If an investment property is bought with the intention of solely collecting rent, then Zakat is payable only on the rental income. If however during the 12 month period between zakat payment a rental property is sold, then zakat is payable the Nett property Value at the time Zakat is due.

Actual Value Zakat Payable
Annual Rental Income Derived From Rental Properties
Estimated Market Value on Investment Properties to be Sold (in this year)
LESS: Any Debt linked to the Investment Property Being Sold (in this year)
NET INVESTMENT PROPERTY

6. Zakat on Business

Self Employed individuals Only – Zakat needs to be paid on All Net Stock in Trade valued at the time of Zakat.

Actual Value Zakat Payable
Total Stock Value

7. Liabilities Deductions

Any loans you have taken from family and friends if not already deducted from Monies you have lent out to family and friends needs to be included below.

Total Value Zakat Payable
Loans taken from Family / Friends
TOTAL LIABILITIES
TOTAL ZAKAT PAYABLE