Question:
I am married since November 19 2006 (27 Shawwal 1427). I received a Kruger coin as mahr but I havent paid Zakaat on it ever since. May Allah forgive me! I need your help in calculating my Zakaat.
Answer:
The Kruger rand is a 22ct gold coin and will be treated as any other gold and silver item one possesses. [1]
The value of the Kruger rand should be added to your total value of zakaatable assets. 2.5% of the total should be discharged exactly one lunar after possessing the threshold (nisaab) which makes you eligible to pay Zakaat.[2]
For example, the first time you ever became the owner of money equal to the nisab or more was on the 17^{th} of Ramadhan, then your ‘Zakaat day’ is the 17th of Ramadhan i.e. you will calculate your Zakaat based on the goods, money, gold and silver that are in your possession on the 17th of Ramadan every year. You will give 2.5% of the total.
How to pay Zakaat on the Kruger coin for the previous years:
1) Ascertain the value of the Kruger coin on your respective Zakaat date of the previous years. This can be done by searching online or asking a goldsmith.
2) Add the value of the Kruger coin to the assets value of that year.
Value of assets in 1428 + Kruger coin = real total value of assets of 1428
3) Just give the difference between what you gave and what you should have given if you had added the Kruger coin amount.
For example, your Zakaat date was 15 Zul-Qa’dah 1427. Your assets totalled up to 10,000 Rand and the Zakaat nisaab was 4,000 Rand. In addition, you were not liable to pay off any debt. Hence, you were obliged to pay Zakaat. 2.5% of 10,000 equals 250 Rand. So Zakaat of your assets was 250 Rand on the 15^{th} of Zul-Qa’dah 1427.
The value of the Kruger coin on the 15^{th} of Zul-Qa’dah 1427 was 2,000 Rand. After adding this amount to the assets value, the total is 12,000 Rand. 2.5% of this is 300 Rand. See the difference between what you gave and what you should have given. You gave 250 Rand; you should have given 300 Rand. So the difference between the two amounts is 50 Rand. So the outstanding Zakaat for the Kruger coin for in the year 1427 was 50 Rand. Zakaat on behalf of the Kruger coin for that year will be dispensed by paying this amount.
By following the above method for each year since 2006/1427, you will eventually pay off the Zakaat which was due each year on the Kruger coin.
Hereunder is a brief chart illustrating the calculation of Zakāh:
Personal Wealth | Amounts: |
1. Amount of Cash and Savings at home or in the bank | R 10,000 |
2. Current value of any gold and silver jewelry, coins, utensils etc | R 5,000 |
3. Value of assets and merchandise for trade | R 20,000 |
4. Receivables and loaned amounts to others | R 5,000 |
Total these amounts here: | R 40,000 |
Amount Debts to be paid: | R 20,000 |
Subtract the total amount of debts for the year from the above amount. | |
Nett Total of Zakatable Wealth | R 20,000 |
if the net total of Zakatable Wealth is more than the Nisab amount then… | |
Multiply the nett total by 2.5% (nett amount x 0.025) | R 500 |
Follow this chart in future to help you dispense of Zakaat.
And Allah Ta’āla Knows Best
Mawlana Faraz Ibn Adam
Student of the Darul Iftaa
Checked and Approved by,
Mufti Ebrahim Desai.