Zakat Calculator

[AbdiWahab252]

Is there any good guidance on calculating your zakat tax bill ?

Whats the percentage ? How much are the exemption ?

[*Nobleman*]

Do you mean zakat? Zakat is a compulsory, 2.5% on all liquid assests (money, gold, silver), after one lunar year has passed.

Sadaqo is voluntary charity, that is strongly recommended, the more money and the more regularly you give, then the better.

[AbdiWahab252]

NobleMan,

2.5% is what I have been told.

So the 2.5% is applied towards your total assets or NET WORTH (Total Assets - Total Liabilities) ?

[Executive]

AbdiWahab252


Its only on Liqiud assets including stock(Provided it you have had it for 12 months.), you can deduct your liability.


Stock is calculated based on market value

[AbdiWahab252]

So Executive,

So it is basically cash & other liquid assets ! THanks

Tell me would it be your liquid assets balances at years end ? Or Total weighted average ?

[Executive]

Sorry bro I corrected myself, You can deduct your liability......

Its only on the liqiud assets you had for 12 months

[*Nobleman*]

Yep cash and liquid assets such as gold and silver.

[AbdiWahab252]

Thanks fellas.

I did the calculations on my zakat. I have hit my zakat requirement.