Calculating zakaat

Which value will be considered for gold and silver jewellery?

Q: The general "market" for an ordinary person wishing to sell his jewellery in our times would be to a jeweler or a gold purchaser. The value thus given by them constitutes the market value. The established practice of both these dealers in evaluating an item to be purchased by them is to consider the gold content present in the jewellery only. They ignore any value that may exist due to the workmanship present in that gold or silver jewellery.

Question: Will this value given by the jeweller or gold purchaser (which is based on gold content only) be the market value considered for zakaat purposes?

Zakaat on loans that are owed to one

Q:

1. I have 1500 dollar cash with myself and my sister borrowed 500 euros from me 3 years before and my brother borrowed 500 dollars from me 3 years before. My husband borrowed 600 dollars from me 1 year before. So how should I calculate zakat for this money?

2. My husband has 15000 dollars in his account and almost 10000 dollars at home with his mother but the money he has at home is saving money from his salary every month he saves the money from his salary. What is the procedure for salary zakaat?

Calculating zakaat on investments

Q: I have invested some money in a telecoms company through a family member. The shares are not available to the general public and only to employees, and the family member is one of the employees. He does not have any control or say in the company as he is a minority shareholder. Please advise how I should go about calculating zakaat. The company is not a Muslim owned company.

Government allowance

Q: I live in the UK with one kid. My kid's dad lives in another country. Because I am a single mum and have no job, I receive some benefits from the government. I use that money for my and my kids's expenses. I don't work so I don't have anywhere alse to get my zakaat money from. Now my question is can I pay my zakaat from that money (which I receive from the government). Also I sometimes give sadaqa from that money. Is my sadaqa valid? Will Allah accept that sadaqah? The other thing I would like to know is how much money do I need to give in zakaat for gold, and cash?

Zakaat on flats

Q: I have two small flats. First one I bought with the intention that I have a house to live on. Later I bought a second one and changed my intention to sell them both after some time to buy a house for me. Both are rented. I want to know.

1. How much zakat I have to pay now.

2. If I use the rent for my retirement money to live without work how do I have to pay zakat?

3. If I sell them and buy a house and start living in it and partly rent it to get money to survive in old age, how should I pay zakaat on it?

Changing one's zakaat date

Q:

1) Is it permissible for a person to change his zakaat date to an earlier date due to him e.g. being out the country on a yearly basis at the same time he was supposed to pay zakaat?

2) If someone doesn't know what exact date he became baaligh on, how should he set the date for payment of his zakaat?

Zakaat on pension fund

Q: I belonged to a Pension Fund at work however it was disbanded and I moved the monies to a retirement annuity. This money is only available to me at age of 55. I have been told that I need to pay zakaat on it annually. The amount is substantial and I cannot afford to pay this annually. Why do I have to pay zakaat if I am not able to use the funds until 55 years?