Friend Some useful Zakat Q&A for you

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Subject: Friend Some useful Zakat Q&A for you

Assalamaualaikum Friend

We've just passed the 21st night Alhamdulillah, and we pray that Allah accept all of our Ibaadah last night.

Friend Last year 78% of our donors paid their Zakat and Sadqah in the last 10 nights. In case you are one of them, we just wanted to summarise some common questions that we've been asked regarding Zakat during the past few weeks that may assist you in ensuring you're fulfilling your Zakat obligation to the best of your ability.

Question: What do I do if I missed paying my Zakat in the past, either due to lack of knowlege or incorrect calculation?
Answer:

Missed Zakat MUST be paid and is considered a debt until paid.
Identify which years you missed a Zakat payment.
Calculate the net total of your Zakatable assets by subtracting any outstanding liabilities at that time.
If the net total is equal to or above the Nisaab of the date, pay Zakat at 2.5% of this.
This has to be done for each year you missed paying Zakat e.g. if you have not paid for the last 5 years, then you need to calculate your Zakat for each of the 5 years.
If you are unsure of the exact value in the past, do your best to estimate it. Allah only asks that we do our best.

Question: Is Zakat due on Jewellery - both that is worn regularly and not worn often?
Answer:

Zakat is due on all gold and silver.
As for jewellery that is regularly worn, the scholars have differed whereby the Hanafi school of thought is of the view that Zakat is to be paid regardless of use - this is the NZF recommended opinion.
The remaining schools are of the view that jewellery worn regularly is not Zakatable.

Question: How do I calculate Zakat on my Superannuantion?
Answer:

Compulsory superannuation cannot be accessed in Australia until retirement and thus is not Zakatable.
If you make voluntary payments to your superannuation, the voluntary component is Zakatable every year.
Early release of superannuation is also Zakatable, for instance if you are accessing your superannuation in these current COVID19 circumstances. However, if you are in a hardship situation and paying Zakat on your superannuation will deteriorate your situation further, you can do it at a later time when you are capable. If this applies to you, please let us know so we can provide the most suitable advice.
In relation to superannuation companies, care should be taken to select a Shariah compliant superannuation company.

Question: Can we combine my spouse's wealth and mine to calculate Zakat?
Answer:

No. Zakat is an act of Ibadah (worship) and this act should be performed by an individual, requiring an individual's intention while calculating & making the intention to pay Zakat.
If the family owns a joint account, let’s say the husband is the breadwinner, then he should pay on those savings but not his wife, assuming he owns all the wealth in the joint account. Alternatively, if they have agreed to each owning a portion of the wealth, for example 50% each, then each person has to calculate & pay Zakat on 50% of the savings.
Each individual is only obliged to pay Zakat if they pass the Nisab as an individual.
One may pay Zakat on behalf of their spouse as long as the spouse has made their individual intention & calculated the Zakat they owe as an individual.
The accountability of paying Zakat is always with each individual.

Friend This is certainly not an exhaustive list of questions but hopefully if it's one thats been on your mind, this will help. If you have any other questions, please use one of the following means to reach out to us. Our entire team is on stand by to answer your questions