Q: Parents save money in a bank for their one child. The age of the child is seven years old. They do not give any zakah for that money. If parents ask the child may we use this money for this (something) purpose and the child says yes, can they use it with the child's permission? Can they do qurbani from that money?
Q: Is Zakaat applicable on diamond jewellery or not?
Q: Ahmad loaned Cassim R100 000 in cash. Cassim gave 2 kruger coins as a security on the loan (todays value approximately R56 000).
Who pays zakaat on the 2 kruger coins? Who pays zakaat on the loan of R100 000?
Q: If a person is studying at a university and is funded by a government bursary as well as gets discount by the university but the government bursary only pays fees in January or so, so the student is in debt to the university by the end of year in December, but because the government pays the bursary in January and due to the discount that the university gives there is still an amount left over with the university on the students financial statement stating that the university owes the student some money. So all the years of studies goes on in this way where the excess money left over gets used up completely during the course of the year for fees but by the end of the year the student is in debt and the following year the bursary pays it out and now the university owes the student.
Does the student have to pay zakaat on the left over amount that's reflecting on his financial statement? (Despite this money getting used up during the course of the year completely and despite him not having any access to it) or does he only have to pay zakaat on the money that he has in his possession?
Q: I purchased a piece of land (the land was not yet ready for construction) to construct a house on it when I have money and I want to give it on rent. Is zakaat payable or not on that piece of land?
Q: I have wealth more than nisaab (R50 000) that makes zakaat compulsory upon myself. I took a loan from a relative (R1.2m) to purchase a house. I will be repaying him over monthly installments (R10 000) over the next 10 years. Hence, in essence, my debt is more than my assets.
1. How do I calculate my zakaat?
2. Does this make me a recipient of zakaat?
Q: We are three brothers living in one house but due to some clashes a few years back, two of us decided to move out of that house. We bought some land quickly with the intention of building a house on it. But then things settled down with our third brother and now all three of us are living in the same old house.
For the land that we two brothers bought, we have no immediate plan to build a house and it is there just in case one of us loses his job so he may start a business after selling that land.
Do I have to pay to zakaat on that land as I bought it with the intention of building a house but right now we might sell it in the future if anyone’s financial situation becomes tight?
Q: If on the 1st of Muharram a person had the nisaab amount and then the next year on the 1st of Muharram he had 1 pence less than the nisaab, what does he do?
Q: I have taken over a running business in January of this year (2021). I am owing on this business for the next three years. With regards to zakaat, do I commence paying immediately or after 1 lunar year?
Also, for the merchandise on hand, when calculating zakaat do I use the cost price or the selling price of the goods?
Q:
1. How much zakaat needs to be paid on fruit trees, which have been purchased in order to make profits on selling the fruits?
2. How much zakaat needs to be paid on a bee hive, which has been bought and rented out to a farmer?
3. How do I pay zakaat on a solar panel which generates revenue from selling electricity produced?