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Daily Nisaab Prices

15 February 2019 / 10 Jamad-Ul-Akhir 1440
Nisáb = R5296.91
Silver = R8.65/g (269.00/oz)
Gold = R688.88/g (R18 601.98oz)
Prices & Calculations include VAT

What is the meaning of Nisáb?

Nisáb is a minimum amount of wealth which makes one liable to pay Zakáh. The person who possesses an amount equal to or greater than this specified minimum wealth, which remains in his or her possession for a period of one year is considered wealthy enough to pay the Zakáh.

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For more than 43 years, SANZAF has been a source of hope to those in need. SANZAF works in a proactive way in sectors such as welfare and development, education, emergency relief, food aid and shelter to the needy. 

With your help we have positively shaped the lives of many and have instilled hope in the future.  

The South African National Zakáh Fund (SANZAF) is a faith-based, socio-welfare and educational organisation that strives to facilitate the empowerment of needy families through the efficient collection and effective distribution of Zakáh and other Sadaqát in a proactive and cost effective way through projects – with dignity, sincerity and a shared responsibility. All in the service of the community and for the pleasure of Allah (SWT).

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 REGISTRATIONS & STATUS

  • Registered as a non-profit organisation (NPO 007-160)
  • Registered with SARS for vat (4320215348)
  • Registered as a trust (IT 1670/96)
  • Registered as a public benefit organisation (PBO 930001714)
  • Registered with SARS for tax exemption (RG/0240/08/04)
  • Membership with Proudly South African (CM 040623/9)
  • Recognition by Social Services as a service provider
  • Recognition by Disaster Management of the City of Cape Town.
  • Recognition by the Mayoral office of the Unicity of Cape Town
  • Recognition by the Director of the Volunteer Centre.

What it means to be registered as a Public Benefit Organisation (PBO)

SANZAF is registered as a Section 18A Public Benefit Organisation (PBO number 930001714), which means that any gratuitous cash or in kind donation made to SANZAF for the undertaking of qualifying public benefit activities within South Africa can be claimed as an income tax deduction by the donor.
As a result of this registration, SANZAF is authorized by SARS to issue its donors with a Section 18A tax certificate/receipt upon request. This will allow the donor to claim their donations as a tax deduction. In this way, as a donor, you are able to assist SANZAF help those displaced from their businesses and homes and also obtain a tax benefit in doing so.

How does it work?
Donors can obtain a tax deduction (limited to 10% of their taxable income in a fiscal year) in respect of the total donations made to approved organisations such as SANZAF. In order to do so the donation has to be supported by a receipt from SANZAF.
As an example, if a donor earns R100 000 taxable income per annum and during that year had donated R10 000 to SANZAF then the donor qualifies for a tax deduction of R10 000 from their total taxable income. This means that in this example, the donor would not have to pay tax on R100 000 (total taxable income for the year) but rather R90 000 (R100 000 – donation of R10 000) for that year. This allows the donor to claim their donation of R10 000 as a tax deduction.

In this way, you are able not only to assist SANZAF to #GiveHope but also claim a tax benefit for your contributions.