Zakat, the fourth pillar of Islam, is an obligatory for Moslem (by financial situation). According to Wikipedia, Zakat is the Islamic concept of tithing and alms. It is an obligation on Muslims to pay 2.5% of their wealth to specified categories in society when their annual wealth exceeds a minimum level (nisab).
As follows, I try to elaborate several types of Zakat:
This kind of zakat is paid near to Eid-l Fitr. The amount is equal to 2.5% of our wealth and assets or as much as 3.5 liter of our staple food, such as rice. In short, it can be given both by cash or rice.
Zakat for Profession
Zakat of profession is zakat which is paid from one’s income when it already reaches the nisab.
Method of calculating zakat of Profession:
(Salary+ bonus + other income) x 2.5%
Zakat for Gold/Silver
Don’t forget to pay zakat for the gold or silver that you collect. It’s an obligatory both for the gold/silver that you are wearing or keeping. Nisab for gold is 85 gram while for silver is 595 gram. The level which is has to be paid is 2.5%.
The method of calculating zakat of gold/silver
(The gold/silver kept-the gold/silver worn)x 2.5%
Miss Nita has 150 gram of gold, 40 gram of which is worn. After having all of them for one year, how much that she has to pay?
(150gram-40gram) x 2.5%=2.75 gram or equal in cash as follows:
If 1 gram of gold is Rp.100.000 then 110 gram of gold is Rp.11.00.000. The amount that must be paid is 11.000.000 x 2.5% or 275.000.
Zakat for Saving or Deposit Account
Pay the zakat from the last balance of our saving account if it already reaches its nisab and exists for one year. The nisab is 85gram of gold and the level of zakat is 2,5%. Amount that is subject to the zakat is: saving + interest.
If you have a deposit account amounting Rp.10.000.000 with profit sharing Rp.350.000 per year, then you have to pay Rp.10.350.00 x 2.5% = Rp. 258.750. If your deposit account is a product of conventional bank and you receive interest, then you have to take out the interest (distribute the interest in infaq).
Zakat for Investment
This zakat is paid from our investment gain, for example income of car, house, or land that we rent. Therefore the amount that must be compensated is the revenue and not the capital (like car or the house).
Pak Parno owns a boarding house with 20 rooms. The rent fee for each room is Rp 200.000/month. Every month, Pak Parno spares RP.500.000 as the maintenance budget. How much Pak Parno should pay?
The nisab of the investment is as equal as 653kg of rice with 5% tariff of the gross income and 10 % tariff of the net income. Every month, Pak Parno gains Rp.4.000.000 (20 x Rp.200.000).
As follows, find two ways of calculating his zakat:
Gross: Rp.4.000.000 x 5% = Rp.200.000
Net : Rp.4.000.000 – 500.000 = Rp 3.500.000 x 10% = Rp. 350.000