Zakat on gold is one of the obligations for Muslims who own assets in the form of gold after reaching the nisab and haul. Calculating gold zakat correctly is an important step to ensure that this obligation is fulfilled according to Islamic law.
Many people may still be confused about how to calculate it, even though the process is actually quite simple if well understood. In Islam, gold zakat is required for those who own gold that reaches the minimum threshold (nisab) and has been owned for one year (haul).
Calculating gold zakat is not only about fulfilling an obligation, but also about cleaning your wealth and getting closer to Allah SWT. Treasury will discuss practical steps to calculate gold zakat correctly, from understanding the nisab, haul, to how to convert gold zakat into money.
1. Know the Nisab to Calculate Gold Zakat
Nisab is the minimum limit of assets that are subject to zakaah. For gold, the nisab is 85 grams of pure gold (24 karat). If you have gold that reaches or exceeds this amount, then gold zakat must be issued. Calculating gold zakat starts with knowing how many grams of gold you have.
Make sure the gold is pure gold, not mixed gold or jewelry containing other metals. If the gold is jewelry, make sure to calculate only the pure gold portion. This nisab is based on the current gold price. If the price of gold changes, the nisab value may also change.
Therefore, it is important to keep up to date with the latest gold prices. For example, if the price of gold per gram is Rp1,500,000, then the nisab value of 85 grams of gold is Rp127,500,000. If your gold wealth reaches or exceeds this value, then gold zakat must be paid.
One easy way to find out information about the latest gold prices is through the Treasury application. The gold price in the Treasury application is always updated every minute so that your gold zakat calculation can be more accurate.
Keep in mind, this nisab only applies to pure gold. If you have gold with a lower karat, such as 18 karat or 22 karat, then you need to do a conversion first to find out the weight of pure gold.
2. Ensure Haul Has Been Met
Haul is the period of gold ownership during one hijri year. This means that the gold must have reached the nisab and lasted for 12 lunar months before zakat is issued. Calculating gold zakat also involves checking whether the haul has been met.
If the gold that you own has not reached one year, then zakat is not yet obligatory. However, if the haul has been met, the next step is to calculate the amount of zakat that must be paid.
Keep in mind, if the gold owned decreases during the haul period and no longer reaches the nisab, then zakat is not required. However, if the gold reaches the nisab again before the haul ends, the haul calculation continues.
For example, if you own 90 grams of gold at the beginning of the year, then sell 10 grams in the 6th month, but in the 8th month buy back gold so that the total returns to 90 grams, then the haul is still calculated from the beginning of the first ownership.
Also Read: 7 Complete Guidelines for Zakat on Gold According to Fiqh Experts – Treasury
3. Calculating Gold Zakat to be Issued
After ensuring that the nisab and haul are met, the next step is to calculate the amount of gold zakat that must be issued. The amount of gold zakat is 2.5% of the total gold owned.
For example, if you have 100 grams of pure gold, then the zakat that must be issued is 2.5 grams of gold or equivalent to its monetary value. To make it easier, you can convert the weight of gold into monetary value based on the current gold price.
Calculating gold zakat in this way ensures that the zakat obligation is fulfilled accurately. In addition, you can also consult with a trusted zakat institution to ensure that the calculation is in accordance with sharia provisions.
It should be noted, if the gold owned is jewelry that is used daily, there is a difference of opinion among scholars. Some scholars argue that jewelry used daily is not subject to zakaah, while others argue that all types of gold are subject to zakaah.
4. Conversion into Money to Calculate Gold Zakat
To calculate gold zakat in money, you need to know the price of gold per gram on the day of calculation. For example, if the price of gold is Rp1,500,000 per gram and the zakat to be paid is 2.5 grams, then the nominal zakat to be paid is Rp3,750,000.
By converting gold zakat into money, the process of paying zakat becomes more practical and efficient. However, make sure to always check the current gold price so that the calculation is accurate. Also, make sure that the chosen zakat institution is a trusted and transparent institution in the management of zakat.
5. Utilize Zakat Application or Calculator
In the digital era like now, calculating gold zakat can be done more easily using a zakat application or calculator. You only need to enter the amount of gold owned, the price of gold per gram, and other information through the zakat calculator.
The calculator will automatically calculate the amount of zakat that must be paid. In addition to facilitating calculations, zakat calculators are also often equipped with additional features such as information on nisab, haul, and other zakat guidelines. Thus, you can better understand the obligation of zakat thoroughly.
Calculating gold zakat correctly is an obligation that should not be ignored. You can ensure that this obligation is fulfilled according to Islamic law by understanding the nisab, haul, and the amount of zakat that must be paid through this article.
In addition, calculating gold zakat is also a form of social care, because zakat will be distributed to those in need. Therefore, zakat not only cleanses wealth, but also strengthens the bonds of brotherhood between people.
Like Treasury, which has a program to share with others during this Ramadan. So, besides investing in gold, you can also contribute to helping street children and orphanages get a better life welfare in the future.
Through the Gold for Gold program, even though your gold savings have not met the nisab, you can share directly by activating the Golden Generation add-on button when making gold transactions on the Treasury application.
