E-Nisab.com is a great site, and one that I frequently refer to. Today I noticed that they had posted this on their twitter account:
— e-nisab.com (@e_nisab) February 21, 2012
The link provided refers back to Darul Fiqh’s site, where Maulana Faraz ibn Adam responds (referencing Rad al-Muhtar):
Any personal belonging for personal use such as a house, car, refrigerator and the like are not subject to zakāt. Even if it is surplus to requirements, zakāt is not due on such an item. Thus, there is no zakāt due on the sports car in reference.[i]
I would just add that one caveat to this general fatwa is that if and when a person using luxury items for the storage of value as a means to Zakat evasion, then these items become zakatable as well. During the time of Omar (May Allah be pleased with him) people purchased horses and slaves and claimed an exemption from Zakat due to texts negating any zakat liability on slaves and horses. Omar looked past the letter of the law, and held them liable for zakat.
What was his legalistic reasoning for doing so?
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