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 Long- term Debts and Zakat

I have long-term debt. Should I deduct it from my property?

Answer:

 While calculating the zakat amount, the present debts and basic needs are deducted from the whole property liable to zakat. However;

 There are different opinions about “calculation of zakat for long- term debts”

A long term debt is a debt that will be repaid on installments within more than one year. For example, buying a house or a car on long-term installments.

According to the Hanafi school of thought, a debt, no matter it is an immediate debt or long- term, is deducted from the zakat amount. (Radd al- Mukhtar)

However, some scholars are of the opinion that long-term debts are not deductible. An opinion narrated from the Shafi and Hanbali sects also support this idea.

So, in order to be on the safe side, if a person having a long- term debt has enough money to pay his installs, it is better for him to pay the zakat of his money that reaches nisab value.

Nowadays people prefer long- term debts which may last 10- 15 years. And deduction of these debts lowers the amount under the nisab value. Therefore Muslims miss out on fulfilling the worship of zakat, while the poor are also deprived of the help. So, regarding the spirit of zakat which is praise to Allah swt and help to the poor, it is more proper for a Muslim to prefer paying zakat if he can. Kaynak: http://askaquestionto.us - Long- term Debts and Zakat