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Language: en
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alhamdulillah what are the conditions of
zakat being due on trade
goods Scholars say that there are three
conditions the first condition is that
the individual should have actually
taken taken POS possession of this item
by his own doing as if he had bought it
or accepted it as a gift which means
that if he possessed it through other
means such as inheritance that there is
no zakat on it and this is disputable so
condition one that you actually
possessed it with your own free will
number two that
you possessed it with the intention to
trade in
it condition number three that it
reaches a threshold and this is under
understandable because if it's below the
threshold we don't give zakat on it what
is the threshold as St stated before is
it the threshold of gold or silver the
threshold of silver is best in the
interest of the poor so we take that as
the scholars
stated coming back to the first two
conditions one that I possessed it
willingly by buying it or accepting it
as a gift and this is not a
valid condition
because this and alongside with
intending to trade in it can change
according to the intention because the
prophet
said actions but by intentions and each
person will have but which he intended
did so if I possessed
something and did not have the intention
to trade in it there's no zakat in it
let's assume I'm talking about my
headscarf this thing so I bought it with
my own money and I do not have any
intention to sell it imagine someone
comes in and says she would you take
,000 for this
I said heck yes of course take it and I
take the $1,000 should I give zakat on
the $1,000 the answer is no well she
isn't this trading Goods said no it's
not it's something that I have and I
sold it but it is not intended to be
invested in so anyone and this is
cascaded to everything you own other
than of course gold and
silver my car my house the plots I have
any kind of property I have it's not
displayed to be sold but if someone
offers me a good price though I did not
display it for sale and that would be a
bargain for me I'd sell it
because I want to make a Prof profit not
that I want to trade so if I sell this
I'm going to buy a new one and when I
buy a new one I'm not going to go around
and say guys any, for this I'm still
going to wear it and use it as I used to
without any intention in uh uh selling
it and the likes
now what is the value that I should give
zakat on
so I have trading
Goods should I give the zakat over the
price that I bought it in or the price
of today's when the zakat is
due let's assume I bought it in last
Ramadan and I bought it for
,000 and a year later on the first of
Ramadan of the following GE I evaluate
the value of it so if the value of this
product has fallen and gone down and now
the price value of today is
€800 this is what I give zakat on and if
the value went to
€2,000 this is the Z the value I give
zakat on so what counts is the value of
today when the zakat is due to be
paid as we talked in the last
class do we add the value of the trading
Goods to other possessions of mine of
gold and silver the answer is
yes I add whatever trading Goods I have
to gold or silver or cash money even
even if one of them did not reach the
threshold I combine each one of those
three to what I have of trading Goods
the evidence is the consensus of
Scholars so um Ali and may Allah have
mercy on their souls reported that there
is a consensus among Scholars and
secondly because it is related to the
value
and the value is found in Gold the value
is found in silver and the likes is
found in the trading Goods so they are
combined okay if I'm
trading of course when I sell and buy I
have a
profit is the profit
separate and I have to
count a new lunar year to be completed
on the prophet to give zakat on it or is
the
prophet considered to be part of the
capital and whenever the capital zaka is
due I have to
give the latter view is the most correct
I'll give you an example I have a a
100,000 that are a capital that I trade
with whether I buy grocery Goods whether
I buy clothes whether whether I buy cars
so
my lunar year starts in the beginning of
muharam in the month of the which is 11
months later I get a profit so I sell
and buy sell and buy and on the 11th
month of the year I get a hefty profit
of
10,000 so should I start a new lunar
year for zat of this 10,000 to be given
after 12 months on the 11th month of the
following year the answer is no this
capital of
100,000 is due for zakat on the 1st of
muharam 12 months later so 12 months
later I will have in my possession a
100,000 the capital in addition to the
10,000 profit I give zakat on both 110
10 and this is the most authentic
opinion that the prophet follows the
capital what about plots a lot of the
people ask about plots and when to give
zakat on it the same concept applies as
I've described earlier so plots if you
are a real estate
Trader you buy plots you keep them for
six months they're displayed and if you
get like five or 10% profit you sell and
you buy other plots in this case the
zakat is due because this is trading
goods and of course it would have
reached the nisab because definitely
it's more uh than 595 gram of silver
it's like tons and tons of of silver so
once this Capital invest
invested in buying plots and selling
them a year a lunar rotates while it's
in my possession I have to give
2.5% on the zakat date not on how much I
bought it
for now if I buy a plot or
plots with the intention to live on on
it to build on
it to use it for uh building a a
building and rent it for the future I
may give it for my children for any
reason other than selling and buying
it's not displayed with real estate
agents that listen I have a plot of
1,000 square yards and I'd like to sell
it for this much if you hear someone is
interested give me a call this is my
number no I just bought it and kept it
there is no zakat in
it if my intention changes and I say to
myself as long as I'm retired I have no
better job why not sell and buy and sell
and buy
then the beginning of the zakat year
starts from the change of my
intention
now there are a number of related issues
for example issue number one there is no
zakat in my own house that I live in or
in my
vehicle
because
I
own these
things because I'm using them so my
clothes my utensils my furniture my uh
uh computer all of these are not
zable they're not displayed to be
sold but if I change the intention and
remember changing the intention is not
by someone offering me money for it and
I sell it no this is not trading Goods
because the intention is
not to sell and buy sell and buy and
invest
the intention changes when I see in my
house that I have five computers and
everybody's asking for one of them with
a profet so I said okay let me turn this
into a lucrative business so I start
selling and buying selling and buying
this now becomes
zable so let us assume I
started a business or or I changed my
mind I have a plot and now I want to
sell
it in the beginning it was not for
trading
purposes now that I've changed my mind
and displayed it for sale now it's
becoming a trading
good let's assume I displayed it for
sale on the first of
Ramadan I sold it the following
following day alhamdulillah the amount
is zable beginning on the first of
Ramadan however if I displayed it for
sale for a whole lunar year till the
following Ramadan and nobody bought it
from
me then a year later I ask about the
value I want a million I only could get
700,000 I don't want to sell it for
700,000 I'm still waiting for the
million now after a full lunar year of
being displayed to be sold I have to
give zakat on the price of today's value
which is 700,000 and I give
2.5% as zakat due to the change of
intention
now again if a
person gets
money during the lunar year of zakat so
I have properties I have wealth I have
trading goods and I get
money should I add this
money to the original wealth and assume
that the remaining year is sufficient
and at the end of the year I give zakat
for everything we have to look if the
money I received was
generated from the trading Goods that I
have then it has to follow the same
lunar
year uh uh for zakat at the end of the
lunar year I have to give zakat on all
of them but if it's something new let's
assume I have trading goods and wealth
of a
100,000 in the middle of the
year my father dies and I inherit money
so now it's in my possession do I give
zakat on the money that I inherited six
months later with the original wealth
that I have the answer is
no this has a new lunar year to pass
over it but if I want to save myself
from the trouble and want to save time
and said listen six month doesn't mean a
thing to me I just want to fix one
single day in the hijri calendar where I
give zakat on whatever I possess whether
it came couple of months ago or a year
ago I just want to relieve myself from
the headache that would be sufficient
and permissible without any
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problem for
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must
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