Zakat Calculator Guide | Islamic Relief Canada

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Every year, your zakat leads a powerful change across the world

RAMADAN FOOD PACKS

SUSTAINABLE LIVELIHOOD

Answering a mother’s prayers with 30 lbs of food for her family.

Empowering families through education, health and sustainable income projects.

EMERGENCY AID Providing life saving supplies and support in the face of conflict and disasters.

EMERGENCY AID

SUSTAINABLE LIVELIHOOD

adv anc ing our goa l of imp lem enti ng

RAMADAN FOOD PACKS

sustainable change Your Zakat goes towards both short term help and long term change.

THE POWER OF

your zakat

IS CLEAR

You can help us advance the fight against poverty, as well as respond swiftly to emergencies.

“I had nothing, and my house was not safe or livable. I wasn’t able to fight for myself or my situation. I used to work before serving in people’s houses and in so many places, but I became so exhausted.

It’s been 6 years since Islamic Relief sponsored my son.

In the beginning, I was really not confident because this was all new to me. After seeing Islamic Relief’s programs, I started getting more involved.

Shumaila

shares her heartwarming story of how you have changed her life

Now I operate as a volunteer organizing programs, going to people’s houses, assessing their needs and making sure they receive help. Through this NGO I've been able to gain conďŹ dence in myself.

I do this for the people who have nothing.

Like them, I once had nothing.

However, because I’ve held their hand, God has held my hand.

It is only because of the prayers of the community I have come to this point.

Now, at the age of 32, I started my own education.

I started from Grade 9 again because I want to move forward in life and become something. It's really for my children and other mothers around me.

All praise to God for the way things are now.

I would like to thank Islamic Relief, and you, from the bottom of my heart.

How to calculate Zakat

1

LIST YOUR ASSETS

2

LIST YOUR LIABILITIES

3

How much you currently own of cash, gold, silver, business assets, shares, savings and investment properties.

How much your personal expenses, bills, loans and payments amount to at the moment.

CALCULATE YOUR NET ZAKATABLE ASSETS Subtract your total Liabilities from your total Assets for your Net Zakatable Assets amount.

4 5 6

CALCULATE YOUR ZAKAT Calculate 2.5% of your Net Assets amount if it is more than the Nisab threshold.

Nisab is 612g of silver.

CHOOSE A DATE TO PAY

PAY YOUR ZAKAT TO ISLAMIC RELIEF CANADA It transforms the lives of real people around the world. islamicrelief.ca/donate

Do it yourself YOUR ASSETS (ANNUAL) 1. Cash (Bank/Other)

$CAD

2. Gold

g x $CAD/g

= $CAD

3. Silver

g x $CAD/g

=

$CAD

4. Business assets 1

$CAD

5. Shares 2

$CAD

6. RRSP/RESP 3

$CAD

7. Investment properties 4

$CAD

8. Anything else

$CAD

9. TOTAL

$CAD

YOUR LIABILITIES (ANNUAL) 10. Rent or mortgage payments

$CAD

11. Personal and living expenses

$CAD

12. Utilities and other bills

$CAD

13. Anything else

$CAD

14. TOTAL

$CAD

YOUR ZAKAT 15. Your Zakatable Wealth

$CAD

16. Nisab threshold

$CAD

Subtract totals on Line 14 from Line 9

Nisab is 612 silver grams x $CAD/g

17. Your Zakat Payment

(~ $410.00 CAD)

$CAD

If Zakatable Wealth > Nisab, calculate 2.5% of Line 15 If Zakatable Wealth < Nisab, you do not owe Zakat this year

1. According to the % you own of the business, include cash, wholesale price of goods for sale and inventory and cost of raw materials.

2. If they are for long-term investment without intention to resell then only list the dividend income. If they are for capital appreciation and with the intention to resell, then please include their market value instead.

3. List value after deductions are calculated.

4. For property other than your home for long-term investment without intention to resell â&#x20AC;&#x201C; Zakat is due on rental income only. For property with the prime motivation of capital appreciation and with the intention to resell in this Zakat year, then please include the value of the property.

What can your Zakat do this year? $2,500

can feed a community

$1,000

can provide clean water for a year

$600

sponsors an orphan for a year

$250

can fill an emergency relief pack

$100

can provide emergency food aid

Your Zakat has the power to transform lives GIVE YOURS TODAY islamicrelief.ca/donate

1-855-377-4673

The believerâ&#x20AC;&#x2122;s

shade

on the Day of Resurrection will be his

charity

3501 Mainway, Burlington ON, L7M 1A9 www.islamicrelief.ca 1-855-377-4673 (HOPE)