In Phase 3, Muis will continue to provide certain essential services (Emergency Zakat Financial Assistance, Zakat, Fidyah and Kaffarah enquiries and payment, Appeal Board - Filing of notice, petition and record of appeal and payment) at its counters. For other services, kindly visit https://www.muis.gov.sg/Contact-Info
A share is a divided-up unit of the value of a company. If a company is worth $100 million and there are 50 million shares in issue, then each share is worth $2. A company’s shareholder is a partner in ownership of the company in accordance with the amount of shares he owns in the company. Unlike Zakat on Savings which takes the lowest value of savings during the Haul period that has reached the Nisab, Zakat on Shares is based on the market value of the shares at end of the Haul or financial year period because shares fluctuate in value more rapidly.
There are two ways to calculate Zakat on Shares:
Date of purchase of shares X: | 11/05/12 |
Today's date: | 02/04/13 |
Today'sNisab: | $5,677 |
Number of Shares Owned | Value Per Unit Share on 02/04/13 |
---|---|
X Company: 4000 units | $1.50 |
Valuation of shares at X Company on date Haul is reached:
= $1.50 x 4000
= $6,000 (above Nisab value)
My Zakat on Shares for Haul period 11/05/13 – 02/04/13 is:
= $6,000 x 2.5%
= $150.00
Date of purchase of shares X: | 11/05/12 |
Today's date: | 31/12/12 |
Nisabon 31/12/12: | $6,037 |
Number of Shares Owned | Value Per Unit Share on 31/12/12 |
---|---|
X Company: 3000 units | $1.30 |
Y Company: 1000 units | $12.35 |
Valuation of shares at X company at end of financial year:
=$1.30 x 3000
= $3,900
Valuation of shares at Y company at end of financial year:
= $12.35 x 1000
= $12,350
Total valuation of shares at end of financial year:
= $3,900 + $12,350
= $16,250 (Above Nisab value)
My Zakat on Shares on 31/12/12 is:
= $16,250 x 2.5%
= $406.25