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April 21, 2020
Do I pay Zakat on my collectibles? Watches, antiques, etc.
If your collectibles, watches, or antiques are for personal use, then Zakat is not due on them.
However, if these items are bought for investment or resale, then Zakat is due on their market value. You must pay 2.5% of the current market value if they were acquired with the intention to resell or grow wealth.
Intent matters—Zakat is based on purpose, not just possession.
For specific situations, Ask an Expert at NZF Canada.
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Your Questions about Zakat Answered
Here you will find more answers to your zakat questions.
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Do I pay Zakat on my collectibles? Watches, antiques, etc.
If your collectibles, watches, or antiques are for personal use, then Zakat is not due on them.
However, if these items are bought for investment or resale, then Zakat is due on their market value. You must pay 2.5% of the current market value if they were acquired with the intention to resell or grow wealth.
Intent matters—Zakat is based on purpose, not just possession.
For specific situations, Ask an Expert at NZF Canada.
explore faqs
Your Questions about Zakat Answered
Here you will find more answers to your zakat questions.
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