Answer Praise be to Allah. The child - male or female - is obliged to spend on his (or her) parents if they are poor and he is rich. The obligation of spending on them is indicated by the Qur'aan, Sunnah and scholarly consensus (ijmaa'). Allaah says (interpretation of the meaning): "And your Lord has decreed that you worship none but Ifyou can sell your crypto whenever and take the profits or losses that's what you should pay zakat on. You buy 10 dollars worth of some crypto. Let's say it goes up to 11 dollars. You will pay the 2.5% on 11 dollars. Or if it goes down to $9 dollars, you will pay 2.5% on 9 dollars. Zakahon money in bank. If the amount of saved money reaches the nisab (minimum threshold) and one full Hijri year has passed, then zakah must be paid on it, whether it is for savings or otherwise. The nisab is whatever is equivalent to 85 grams of gold or 595 grams of silver. The amount that must be paid is 2.5% of the money . Ifthe issuing company paid zakat on its business or Business Zakat, should there be any payment of zakat by investors? If the company pays Business Zakat, the shareholders do not need to pay Zakat on the dividend received to avoid double payment of zakat. Takethe hypothetical example of a person who owns 1,000 Suncor Energy shares which were bought one year ago for $25/share at a total cost of $25,000. If the current market price of each Suncor Energy share is $50/share, the market value is $50,000. Using this method, the zakat outstanding is 2.5% of $50,000, or $1,250 ($50,000 * 0.025). datewith Zakat payments 5 Why Zakat on business assets? You may be aware about Zakat on personal wealth, however, the Qur'an and Sunnah have also given speci˜ c guidance on paying Zakat on business. The following verse refers to Zakat on business: " O you who have believed, spend from the good things which you have earned." (Quran 2:267) Zakatis payable on any property you have that is likely to grow. Thus, it is payable on savings, investments, capital, profits etc. Your salary is not the only thing that is zakatable. If you do not have much of the other types of wealth, then what you have been doing is more than enough. Otherwise, you may need to add to what you pay monthly. Therate of tax for resident individuals for the assessment year 2020 are as follows: , the tax rate for 2019/2020 sits between 0% - 30%. For non-residents in Malaysia, the income tax rate ranges from 10% - 28% for YA 2019. It should be highlighted that based on the LHDN's website, for the assessment year 2020, the max tax rate stands at 30%. Zakatis 2.5% of the surplus wealth you have owned for one lunar year. The person eligible to pay Zakat must have been in ownership of the nisab (minimum amount of wealth) for one lunar year before paying Zakat on their surplus wealth. Zakat must be paid as soon as it is due (one lunar year from the anniversary of holding the nisab). ZakatQuestions. Q.) I always calculated zakat on my total asset at the beginning of Ramadan every year. I paid zakat even when the asset was in my possession for less than a year. Keeping this in mind I have this question: I acquired money after selling off my house this year in March 2002. I will be Insha-Allah buying another house soon. 06Zui.