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Zakat Calculator

1. Zakat on Pure Gold and Gold Jewellery

Zakat should be calculated at 2.5% of the market value as on the date of valuation (In our case we consider 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

Zakat is to be paid on Silver in Pure form or Silver Jewellery at 2.5% of the prevailing market rates.

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

Zakat should be paid at 2.5% on all cash balance and bank balances in your savings accounts. The amount technically should be in the bank for one year.

Estimated Value Zakat Payable
Cash in Hand
Cash in the Bank

4. Zakat on Loans Given and Shares

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.

Zakat is payable on the value of shares you have.

Estimated Value Zakat Payable
Loans Receivable from Friends and Relatives
Value of Shares
Other Investments

5. Zakat on Investment Property

Zakat is NOT payable on personal residential property even if you have more than one. Also Zakat is NOT applicable on the net value of your investment Properties. However Zakat is payable on the rental income derived from any investment property.

If your intention is to sell your investment property at a future date for a profit, then Zakat is payable on the Net Sale Value. Also, if your intention changes in the current year (i.e. from rental income investment, to sell for a profit) then you need to pay Zakat on that Net Property Value.

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

This is for Self Employed People only. No matter what business you are into, you've got to pay Zakat on all NET STOCK-IN-TRADE.

Actual Value Zakat Payable
Total Stock Value

7. Liabilities Deductions

If you have taken any loans from any person or relative, and you have not already deducted this amount from any of the above sections, then you can deduct your Payables below.

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