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    Zakat Computation and Had Kifayah

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    Batrisyia
    The document discusses the definition and principles of zakat in Islam, including who is obligated to pay zakat, the differences between zakat and taxes, the objectives of zakat, who qualifies to receive zakat, the types of zakat including zakat al-fitr and zakat on properties, assets, income and savings. It also covers the concept of had kifayah which is the minimum basic living standard used to determine one's eligibility to receive zakat.

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    Zakat Computation and Had Kifayah

    Uploaded by

    Batrisyia
    42 views34 pages
    The document discusses the definition and principles of zakat in Islam, including who is obligated to pay zakat, the differences between zakat and taxes, the objectives of zakat, who qualifies to receive zakat, the types of zakat including zakat al-fitr and zakat on properties, assets, income and savings. It also covers the concept of had kifayah which is the minimum basic living standard used to determine one's eligibility to receive zakat.

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    ACT 4122_03

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    The document discusses the definition and principles of zakat in Islam, including who is obligated to pay zakat, the differences between zakat and taxes, the objectives of zakat, who qualifies to receive zakat, the types of zakat including zakat al-fitr and zakat on properties, assets, income and savings. It also covers the concept of had kifayah which is the minimum basic living standard used to determine one's eligibility to receive zakat.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    42 views34 pages

    Zakat Computation and Had Kifayah

    Uploaded by

    Batrisyia
    The document discusses the definition and principles of zakat in Islam, including who is obligated to pay zakat, the differences between zakat and taxes, the objectives of zakat, who qualifies to receive zakat, the types of zakat including zakat al-fitr and zakat on properties, assets, income and savings. It also covers the concept of had kifayah which is the minimum basic living standard used to determine one's eligibility to receive zakat.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 34

    ZAKAT

    COMPUTATION AND
    HAD KIFAYAH
    Definition of Charity (Zakat)
    Language
     “Clean”, “Pure”, “Healthy”, “Blessing” and
    “Develop”
    Islamic religious law (syarak)
     Spend certain asset to “asnaf” that rightful to have
    its after fulfilled the condition of Islamic religious
    law (syarak)
    Principle of Islam
     

    "Ambillah (sebahagian) dari harta mereka menjadi sedekah,


    supaya dengannya engkau membersihkan mereka (dari dosa)
    dan mensucikan mereka (dari akhlak yang buruk), dan
    doakanlah untuk mereka, kerana sesungguhnya doamu itu
    manjadi ketenteraman bagi mereka, dan (ingatlah) Allah Maha
    Mendengar Lagi Maha Mengetahui." –
    Surah At-Taubah (ayat 103)
    Principle of Islam (continue)
     

    "Dan dirikanlah kamu akan sembahyang serta keluarkanlah


    zakat dan taatlah kepada Rasul supaya kamu beroleh
    rahmat". Surah An-Nur (ayat 56
    Principle of Islam (continue)

    "Dan (ingatlah wahai Muhammad), Ketika Kami mengikat perjanjian setia dengan Bani
    Israil (dengan berfirman): Janganlah kamu menyembah melainkan ALLAH, dan
    berbuat baiklah kepada kedua ibu-bapa, dan kaum kerabat dan anak-anak yatim, serta
    orang miskin; dan katakanlah kepada sesama manusia perkataan-perkataan yang baik;
    dan dirikanlah sembahyang serta berilah zakat. Kemudian kamu berpaling
    membelakangkan (perjanjian setia kamu itu) kecuali sebahagian kecil daripada kamu
    dan sememangnya kamu orang yang tidak menghiraukan perjanjian setianya." Surah
    Al-Baqarah (ayat 83
    Objective of Zakat
    Deep humanitarian and social-political value
    --excessive wealth is distributed amongst the poor.
    Helps purify one's soul and encourages a Muslim to
    have gratitude towards God's bounties.
    Who is Obligatory?
    Islam
    Independence
    Full Ownership
    Assets intended for increasing wealth
    Assets that exceed a minimum value
    Completion of Haul
    Differences Between Tax & Zakat
    Tax Zakat
    Concept-Imposed by government to the Concept- Imposed by Al-Quran & As-
    people liable to pay tax Sunnah to purification of soul and
    property to Muslim
    Will be penalized if not pay (penalize It was the sin if not pay the zakat
    depends on situation) because as Muslim already know has a
    compensation day
    Tax resources is all the resources acquired Resource only from legitimate resource
    that state in Al-Quran and As-Sunnah

    Taxable person The payment of zakat only for Muslim

    Tax could be collect by tax authorities Zakat could be collected by Islamic


    (LHDN) government & Islamic bodies (amil)
    Tax rate can vary with rate prescribed by Rate of zakat is fixed namely 20
    the government to each year miskal/85gram but have a lot of rate of
    zakat depends on types of zakat
    Tax distribution to all activity which Distribute to 8 asnaf only
    needed by people
    Who is Qualified to Receive Zakat?

    Faqir
    Miskin
    Amil (Collectors of Zakat)
    Muallafatul Qulub (Those whose hearts are to be
    reconciled)
    Fir-Riqab (Emancipation of slaves)
    Al-Gharimin
    Fi Sabilillah (In the cause of Allah)
    Ibnu Sabil (The wayfarer)
    2 TYPES OF ZAKAT

    Zakat al-fitr
    Zakat’s Property
    Zakat al-fitr
    Obligatory on every Muslim who meets the conditions
    Obligatory conditions:
    i) Have leftover food/property for his liability at night &
    morning hari raya
    ii) Born before sunset at end of Ramadhan
    iii) Embrace Islam before sunset at end of Ramadhan
    iv) Person who dead after sunset last
    Ramadhan
    Zakat on Property
    Zakat on Income
    Zakat on Business
    Zakat on Cattle
    Zakat on Argiculture
    Zakat on Savings
    Zakat on Gold & Silver
    Zakat on Business
    Compulsory to be taken out revenue from property of
    business
    OBLIGATORY CONDITIONS
     Muslim
     Liberated
     Right of Ownership
     Reaches of Nisab
     Reaches of Haul
     Intention to Conduct Business
    Zakat on Income
    Income means the from the salaries and professional
    members

    Calculate zakat on Income


    i) Pay 2.5% on annual gross income
    ii) Payment after deductions of expenses
    Zakat on Cattle/Livestock

    Compulsory to cattle which perfect conditions for all


    owners domestic animal
    That animal not used to work
    Zakat on Agriculture
    compulsory levy on every kind of produce
    obligatory on agricultural products and fruit.
    Almighty God says in Quran,
    "Eat of its fruit when it bears fruit, and pay the due of it
    on the day of harvest"  (Quran - Surah al-An'am -
    6:142)
    Zakat on Savings
    i)   Currencies are regarded as Gold. The Nisab in any
    currency is the amount equivalent of 85 grams of pure
    gold.

    ii)  Cash in hand, or on loan to others in any currency, in


    your bank and building society accounts, and the release
    value of bonds, securities and shares are all zakatable.
    Zakat on Gold & Silver
    i)  The Nisaab of gold is three ounces or about 85
    grams of pure gold and of silver is 595 grams of
    pure silver.
    ii)  Gold and silver in any shape or form are
    zakatable if they are bought as investment even if
    they are not allowable to use.
    iii) Jewelers that are not made of gold or silver are
    not zakatable. 
    Payment Procedure of Zakat
    i) Deduction of Salaries
    ii) Pos Office
    iii) Internet Banking
    iv) Counter’s Bank
    v) Credit Card
    vi) ATM Machines & SMS
    Zakat for Personal Income

    Income = salary + other income, received by an


    individual.
    Example: annual salary, allowances, accrued salary and
    etc.
    Q1: Calculation of zakat for personal
    income

    Nisab = Minimum level which zakat is payable


    = 85 g X Current value of gold
    = 85 g X RM80
    = RM 6800
    Method 1
    Zakat payable = 2.5% X Gross Income

    = 2.5% X (salary + allowance + bonus + etc)


    = 2.5% X (24000 + 5800 + 4000 + 5000)
    = 2.5% X RM 38,800
    = RM 970
    Method 2
    Zakat payable = 2.5% X (annual income –
    authorized expenses per year)

    = 2.5% X (RM 38,800 – RM 21,600 – RM 1,200)


    = 2.5% X RM 16,000
    = RM 400
    Method 3

    Zakat payable = 2.5% X ( annual income


    - actual expenses per year)

    = 2.5% X (RM 38,800 – RM 34,600)


    = 2.5% X RM 4,200
    = None

    *Current value is less than the current nisab.


    Q2 : Calculation of Zakat for share

     Shares are money that invests in a company or business.

     For the certificated shares of companies which listed in Bursa


    Malaysia are liquidity than the shares unlisted.

     An act of exchange of a less liquid asset with a more liquid is called


    liquidation.

     Zakat is obligatory on company shares.

     In general guide, zakat is calculated as 2.5% at the lower value all


    shares that we owned in a year after deducting loan of buying shares
    (if any).
    Shares that we own until the end of year
    (hujung haul) :

    Zakat calculation is 2.5% at the lower between cost


    and market price.

    Example : 200 lot ( 1 lot equal to 1000 units)


    shares of Syarikat Mukmin X RM1.00 (assume
    that this is the lowest price) = RM200,000
    Answer : zakat = RM200,000 X 2.5%
    = RM5000
    Shares that we buy and sell in a year (haul):

    Zakat calculation is 2.5% at the price of selling all shares


    after deducting buying cost.
    Example : total selling shares – buying cost
    = RM500,000 – RM 400,000
    = RM 100,000

    Answer : Zakat = 2.5% X RM 100,000


    = RM 2,500
    5. HAD KIFAYAH
    Minimum basic requirement for individual/family to apply
    for zakat
    Determine based on current cost of living
    To measure the amount of zakat to be received in meeting
    basic needs.
    Bil Category Town (RM) Rural (RM)

    1. Head of family 190(low cost 135(own house)


    house)
    390(rumah 235(rumah
    berbayar) berbayar)
    2. Adult (NW) 100 70
    3. Dewasa (W) 170 120
    4. Remaja (S) 125 85
    5. Kanak-kanak(S) 105 65
    6. Kanak-kanak 60 30
    (WS)

    W=Working NW=Not Working S=School WS=Without School


    Kes 1:

    1 head of family (low cost house)


    1 adult without school
    1 adult with school
    2 teenagers

    Total family income = RM335


    Question

    HAD KIFAYAH
    Town area
    Income per month RM335
    Expenditure (per month)

    Leader of family (paid-up house) RM390


    Adult (without school) RM100
    Adult (with school) RM170
    2 teenagers (125x2) RM250
    Total RM910
    Identification of “fakir”
    = Income x 100%
    Had Kifayah
    = 335 x 100%
    910
    = 36.81%
    Had Kifayah (minimum living standard) for this applicant is
    RM910. This applicant is in category of “fakir” because the
    percentage is below 50% (expenses incurred more than income
    earned) and qualified to receive zakat.
    Rural area

    Income per month RM335


    Expenditure (per month)
    Leader of family (paid-up house) RM235
    Adult (without school) RM70
    Adult (with school) RM120
    2 teenagers (85x2) RM170
    Total RM595
    Identification of ‘miskin’
    = Income x 100%
    Had kifayah
    = 335 x100%
    595
    = 56.30%
    Had Kifayah (minimum living standard) for this applicant
    is RM595. This applicant is in category of ‘miskin’
    because the percentage is exceeding 50% (expenses
    incurred more than income earned) and qualified to
    receive zakat

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