Khums Calculation

Surplus

Amount you own, in Australian Dollars ?

Calculated on your khums due date.

Equivalent amount, in Australian Dollars, of foreign currency you own ?

Calculated on your khums due date.

Debts owed to you that you expect to be repaid ?

Do not include this if it was accounted for in previous financial years.

In-kind possessions not used for sustenance ?

This includes buildings, farms, factories, commodities, work tools, and any household items or possessions not used for sustenance. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.

Financial dues ?

This includes the due of key premium (surqufliah), the due of utilizing agricultural lands owned by the state, and the due of revival of lands which are fenced and prepared for residency. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.

Amount you utilized prior to your khums due date ?

This is cash which was subject to khums prior to your khums due date, and which you have already spent (e.g. If this is the first year you pay khums, despite having needed to pay khums in previous years)

Fungible items you utilized prior to your khums due date ?

These are fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to present value. Fungible items are those which are freely exchangeable or replaceable, in whole or in part, for another item of a similar nature, such as machinery or factory-produced fabrics.

Non-fungible items you utilized prior to your khums due date ?

These are non-fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to their value at point of utilization. Non–fungible items are unique items, such as unique paintings, monuments, and unique jewelry.

Amount you already paid with intention of Sahm Al-Imam ?

Amount you paid with the intention of Sahm Al-Imam before your khums due date.

Amount you already paid with intention of Sahm Al-Sada ?

Amount you paid with the intention of Sahm Al-Sada before your khums due date.

Deductions

Commercial debts ?

Include all commercial debts you still owe others.

Remaining sustenance debts taken in the financial year ?

Includes debts borrowed in the financial year for accommodation (mortgage), a car, etc. Please refer to more detailed rulings for accounting for mortgages.

Remaining sustenance debts taken in previous financial years ?

Includes debts borrowed in the previous financial year for accommodation (mortgage), a car, etc. The asset (house, car, etc.) must still be in your possession. Calculate only the amount that you have not deducted from your profits in previous financial years. Please refer to more detailed rulings for accounting for mortgages.

Amount you own which has already been subjected to khums ?

Calculated on your khums due date. Includes the remainder of funds that were subject to khums in previous years and on which you have already paid khums.

Notes

1) Your khums due date is the first day you started your job or business. If you are retired or not in employment, then you can agree a khums due date with a representative of the marja'a, or calculate separate khums years for each profit that you make, from the date you made that profit.
2) The khums of commercial commodities and real estate(s) which are intended for trading, should be paid in accordance with their current market value, even if they were bought with profits which a year has elapsed on, unless the price at which they were bought is higher than the current value.
3) If the calculations show that the amount of khums due is negative as a result of sustenance debts, then the amount of the sustenance debt equivalent to the amount of khums due for the rest of the item is calculated and excluded.
4) If sustenance debts are fully repaid in the financial year, this amount is excluded from the profits.
5) Possessions which are not subject to khums are:
1. a. Possessions owned through inheritance:
2. i. Cash
3. ii. Real Estate
4. iii. Objects that are transferrable and the like
5. b. Possessions owned by the wife from the dowry (mahr):
6. i. Cash
7. ii. Gold Jewellery
8. iii. Home furniture and the like
9. c. Possessions used for personal or family provisions from the profits of that financial year:
10. i. Home residence
11. ii. Home furniture and other household items
12. iii. Gardens used for leisure and to personally benefit from their fruit
13. iv. Personal or family cars
14. v. Animals that are benefited from by the household such as a cow for milk or a chicken for eggs
15. d. Debts owed by others that you do not expect to be repaid.
16. e. Items purchased through debt that has not yet been repaid.

Total amount subject to Khums $0

Khums Due $0

Sahm al Imam to be paid $0

Sahm al Sada to be paid $0

Email me Khums report

3 Significant Benefits of Fasting in Ramadan

29 February 2024

Ramadan, the holiest month in the Islamic calendar, is a time of spiritual reflection, self-discipline, and strengthening our connection with God. Central to this sacred month is the act of fasting, observed by millions of Muslims around the globe. In this blog, we delve into the overall benefits of fasting in Ramadan, including spiritual benefits and health advantages.

So why do people fast during Ramadan? Fasting during Ramadan is not merely an act of abstaining from food and drink; it is a deeply spiritual practice that holds profound significance in Islam. Through fasting, individuals are reminded of the blessings they have been bestowed with and are encouraged to show gratitude for them. Additionally, fasting serves as a way to empathise with those who are less fortunate, promoting compassion and solidarity with those in need.

1. The Spiritual Significance of Fasting:

Many question the purpose of Ramadan and fasting, and the reasoning is quite clear in Islam. Ramadan fasting is more than just refraining from consuming food and drink; rather, it is a transformative journey towards attaining Taqwa (God-consciousness). As stated in the Holy Quran, “O you who have believed, decreed upon you is fasting as it was decreed upon those before you that you may become righteous” (Quran 2:183). This verse emphasises that fasting is a means of spiritual purification and moral elevation. By refraining from worldly desires, Muslims aim to strengthen their relationship with Allah (SWT)and increase their awareness of His presence in their lives.

2. The Virtues of Self-Discipline and Gratitude:

Fasting instils a sense of self-discipline and control over one’s desires, which are essential virtues in Islam. By refraining from food, drink, and other physical comforts during daylight hours, Muslims learn to harness their inner strength and resist temptation. This practice of self-discipline extends beyond abstaining from food; it encompasses refraining from negative behaviours such as gossip, anger, and dishonesty, in addition to encouraging self-control too. Through fasting, individuals cultivate a heightened awareness of their actions and strive to align them with the teachings of Islam.

Moreover, fasting creates a profound sense of gratitude for the blessings bestowed upon us by Allah (SWT). As we experience hunger and thirst, we become acutely aware of the privileges we often take for granted, such as access to food, clean water, and shelter. The act of fasting reminds us of the struggles and challenges of the less fortunate and encourages us to share our blessings with those in need. In the words of Imam Ali (peace be upon him), “Blessed is he whose own faults preoccupy him from noticing the faults of others and whose own hunger preoccupies him from envying the plenty of others.”

3. Physical and Mental Health Benefits:

In addition to its spiritual rewards, fasting in Ramadan offers numerous health benefits for the body and mind. By giving the digestive system a break from constant processing, fasting allows the body to undergo detoxification and renewal, leading to enhanced energy levels. Furthermore, fasting has been associated with cognitive benefits, including improved focus, mental clarity, and mood regulation. As individuals abstain from eating and drinking, they experience a sense of heightened awareness and mindfulness, which can facilitate introspection and self-reflection.

Additionally, Ramadan fasting has been linked to potential longevity benefits, with research suggesting that periodic fasting may promote cellular repair mechanisms and delay aging processes. Also, the practice of fasting encourages a shift in dietary habits, often leading to increased consumption of nutrient-rich foods such as fruits, vegetables, and whole grains during non-fasting hours. This dietary adjustment can contribute to overall better nutritional intake and support long-term health outcomes.

Furthermore, the communal aspect of Ramadan, where families and communities come together to break their fast, enhances social bonds and emotional well-being, promoting a sense of belonging and solidarity among everyone. Overall, the multifaceted benefits of fasting in Ramadan extend beyond the spiritual realm, encompassing aspects of physical health, mental well-being, and social solidarity.

Fasting in Ramadan is a transformative practice that offers a wealth of spiritual, physical, and mental benefits. Through self-discipline, gratitude, and spiritual reflection, Muslims embark on a journey of self-discovery and purification during this blessed month. As we strive to fulfil our religious obligations and draw closer to Allah (SWT), let us embrace the virtues of fasting and reap the abundant rewards it offers. May Ramadan 2024 be a time of renewal, healing, and spiritual growth for everyone.