Zakat Calculator

Assets

Zakah is due on the any wealth that is in your possession for one complete Hijri (lunar) year.

Your actual monthly or annual living expenses are not subject to Zakat, your cash savings and other liquid assets are subject to Zakat.

This includes all investments. While the amount should technically be in the bank for one year, unless you have been keeping track, make your best judgement on the amount applicable.

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

If you have a business, all stock in trade is liable for zakat, including land and real estate holdings that are for the purpose of resale. Raw materials and goods produced for sale are also subject to zakat.

For zakat on your business, you should also include: cash assets, wholesale value of goods for sale, additional inventory, any costs on ‘works-in-progress’, and the cost of raw materials. Only include business assets in line with your percentage ownership of the business.

Buildings, machinery, vehicles and so on that are essential for the business are exempt from zakat.

Gold ?

Gold price last update from GoldBroker at September, 22nd 2021, 20:00 PM

Zakat is imposed on Gold regardless of its form (ingots, coins, utensils, jewellery, etc.).

There is a difference of opinion on whether zakat is due on jewellery that is everyday worn versus jewellery that is otherwise not in regular use, in storage, or for resale. IDRF follows the opinion Zakat should be paid on Gold regardless of whether it is used or not.

For items made from a mixture of metals, they are only liable to zakat if half or more of the metal or alloy is gold, although some scholars hold that the proportion of gold or silver in any owned asset is subject to zakat. You can have your Gold appraised at its resale value by a jeweller, or you can multiply the number of grams you own by the current market value, as is set with this calculator.

Silver ?

Silver price last update from GoldBroker at September, 22nd 2021, 20:00 PM

Zakat is imposed on Silver regardless of its form (ingots, coins, utensils, jewellery, etc.).

There is a difference of opinion on whether zakat is due on jewellery that is everyday worn versus jewellery that is otherwise not in regular use, in storage, or for resale. IDRF follows the opinion Zakat should be paid on Silver regardless of whether it is used or not.

For items made from a mixture of metals, they are only liable to zakat if half or more of the metal or alloy is gold, although some scholars hold that the proportion of gold or silver in any owned asset is subject to zakat. You can have your Silver appraised at its resale value by a jeweller, or you can multiply the number of grams you own by the current market value, as is set with this calculator.

Since zakat is incumbent on all forms of assets, if you possess any other forms of cash or asset not mentioned above, please add the dollar value of these here. This could include (but not limited to)

  • assets belonging to a family member on whose behalf you are paying Zakat
  • the face value of your holdings in cryptocurrency
  • foreign currencies held in offshore accounts which you did not include above

Do not include personal items of everyday living, such as your home, furniture, cars, food and clothing.

Zakat is due on the rent (cash) received from renting any property, whether or house, condo, or room in your house, as long as it meets the nisab and has been in your possession for more than a Hijri (lunar) year.

If it is a rental property, then zakat is due on the rental income minus the expenses related to the rental income. Only pay zakat on what you currently possess in cash or liquid assets, whatever has already been spent has no zakat on it.

Zakat is not due on a rental property or condo itself, since real estate is not subject to zakat unless it was acquired with the intention of sale.

The house in which you live is not subject to Zakat. If you own or have purchased another property or fixed asset with the express intent to resell, then the entire sale value of the property is subject to zakat. Remember, zakat is neither due on the house you live in, nor upon on a rental property or condo itself, unless it was acquired with the intention of sale.

If you don’t have enough cash to pay the zakat due for any property that is intended for sale, then consider paying zakat on the property once you have the funds available - and Allah knows best.

Liabilities

There are a range of liabilities which can be deducted from your Zakat calculations. These include outstanding or overdue living expenses such as rent payments, utility bills, and debts, such as those on a credit-card.

If a person has a debt that is being paid off in monthly installments, like a credit card debt, then one should only deduct the payment that is currently due from one’s assets. For credit cards, only deduct the original sum of the debt or principal amount owed, and not the interest.

If a person has a debt that is being paid off in monthly installments, like a mortgage or rent, then one should only deduct the payment that is currently due from one’s assets.

For long-term or fixed debts, such as yearly mortgages or a single rental/lease payment, only the non-interest total of the upcoming lunar year’s worth of debt can be deducted from Zakat calculation. If payments are not being paid on the long-term debt, then it should not be deducted.

If a person has a car payment that is being paid off in monthly installments, then one should only deduct the payment that is currently due from one’s assets. For car payments, deduct the original sum of the debt or principal, and not the interest.

For long-term or fixed debts, such as yearly lease or car payments, only the non-interest total of the upcoming lunar year’s worth of debt can be deducted from Zakat calculation. If payments are not being paid on the long-term debt, then it should not be deducted.

For deductible business expenses, include the value of any of the following outstanding and unpaid liabilities. Only include liabilities that are due to be paid between now and your Zakat date. Please only include business liabilities in line with your % ownership of the business.

  • Rent
  • Utilities
  • Commercial loans that have been used to finance/purchase assets
  • Salaries
  • Other bills

*If your business liabilities payable between now and your Zakat due date exceed your business assets, then omit all business expenses from your Zakat calculation, since this could incorrectly affect the Zakat amount you may owe personally.

Certain additional liabilities can be deducted from your Zakat able assets. These include outstanding or overdue living expenses such as rent payments, utility bills and debts.

If a person has a debt that is being paid off in monthly installments, whether a mortgage, student loan, or a credit card debt, then one should only deduct the payment that is currently due from one’s assets. For interest-bearing debt, you are only allowed to deduct the original sum of the debt, and not the interest.

For long-term or fixed debts, only the non-interest total of the upcoming lunar year’s worth of debt can be deducted for Zakat calculation. If payments are not being paid on the long-term debt, then it should not be deducted from your zakat calculations.

Zakat Due

$

Your Zakat Summary

Nisab

The nisab is the portion of wealth (minimum amount) that a person owns that requires to pay zakat. If a person possesses this nisab for a complete lunar year, the poor now owns this portion and the possessor is obliged to give – pay zakat?

Zakat Eligibility calculated based on Silver Nisab

Silver (612.36 g)

Price/g:  $0.93

Nisab:  $569.49

Gold (87.48 g)

Price/g:  $72.52

Nisab:  $6,344.05

Total Assets

$

Total Liabilities

$

Total Zakatable

$

Zakat Due

$