Zakat must be paid on 2.5% of the amount of gold you own if it and/or the total value of other assets is above the Nisab.
A gram of gold is approximately $105.87 (AUD), which equates to almost $2.65 Zakat per gram. For example, if you own jewellery made with 50 grams of pure gold, you would owe around $132.34 (AUD) in Zakat on it.
Use our Zakat calculator to work out how much Zakat you owe on gold for 2024.
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Zakat: A Sacred Pillar of Islam
Zakat is not only a duty those with sufficient wealth do for the sake of Allah (SWT). It is a right that the poor have over us.
As mentioned in the Holy Qur’an:
“Those in whose wealth there is a recognised right for the needy and the poor”
Al-Ma’arij, 70:24-25
What is Nisab?
The Nisab is the minimum amount of wealth a Muslim must own before they become eligible to pay Zakat. This amount is the Nisab threshold.
Gold and silver are the two values used to calculate the Nisab threshold. The Nisab is the value of 87.48 grams of gold or 612.36 grams of silver. In another teaching, the threshold set by Prophet Muhammad (ﷺ) was 85 grams of gold and 595 or 609 grams of silver.
CURRENT NISAB VALUE IN AUSTRALIA AS OF 4/3/2024
Using value of silver 609 grams = $675.99 (AUD)
Using value of gold 85 grams = $8,999.07 (AUD)
Your Zakat Save Lives
Alhamdulillah, your Zakat has the power to transform millions of lives.
Together, we’ve given relief to people and communities living in disaster and war zones. Drought and famine-struck countries across East Africa. Communities affected by conflict in Yemen. Families in Palestine (Gaza) struggling to survive one day to the next.
We’ve supported communities to build sustainable livelihoods in the face of climate change and to build better lives for vulnerable orphans and families across the globe.
Thank you for helping us continue our life-saving work. Let us keep changing lives for the better in the years to come.
Our Ummah, Your Zakat
Help be a lifeline to thousands of families and communities in need around the world when you give with Islamic Relief.
