QUESTION: I have a debt of 230 000 to pay on a house. My monthly payment is 7000 until the house is fully paid. I have 33 000 in savings, and 30 000 which I borrowed to someone. How will I calculate Zakaah on this? ANSWER: In principle, Zakaah becomes Waajib for a...
QUESTION: I recently paid Zakaah as Madrassah fees for a Baaligh child. I did establish from the mother at that time that the child did not possess the Nisaab and offered to pay it after informing the mother. I paid the full year's fees, transferring it into the...
Q1. I have inherited a part share in a private company from my late father’s estate. I merely receive a share in the dividends that the company receives from the companies on the JSE. Do I have to pay Zakaah? A1. Yes, Zakaah is Waajib on shares. Q2. Do I pay Zakaah on...
QUESTION: I am writing to seek your guidance regarding my obligation to pay Zakaat on an investment that I made. I invested a total of R100,000 into a business involving the buying and selling of livestock, and as such, paid Zakaat as stock in trade as advised by a...
QUESTION: I borrowed money to start a small business from home about 2 months ago. I bought a few items ordered by customers who haven't paid for it yet. I also bought some extra items. Do I pay Zakaah on this stock? Last Ramadhaan I paid Zakaah on money I had saved...
Q1. A Hakeem stocks certain products which he buys like oils, herbs, etc. and as patients need, he mixes it for them. Sometimes he sells it to them, and sometimes he gives it to them. Sometimes these same raw herbs/oils are used during treatment, and not mixed into...
QUESTION: If a women owned a gold Kruger coin and did not know about it because it was in safekeeping with her brother for 11 years, does she have to pay Zakaah on it for that period of time? ANSWER: No, Zakaah will not be obligatory on the gold for the previous...
QUESTION: Due to the nature of my business, my earnings fluctuate. How do I calculate Zakaah in this instance where it is currently above the Nisaab amount but hasn't been in my possession for a full year, and on what date should the Zakaah be discharged? I have been...