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Daily Nisaab Prices

11 December 2019 / 03 Rabi-Ul-Akhir 1440
Nisáb = R5045.85
Silver = R8.24/g (248.56/oz)
Gold = R645.93/g (R17 440.39oz)
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)

Public Benefit Organisation (PBO) is any welfare, religious or cultural body, private school, bursary fund or charitable trust that has been approved by SARS. The PBO's legal status can take the form of either a Trust, a section 21 Company or an Association of Persons. SANZAF is registered as a Public Benefit Organisation (PBO – 930001714). The benefit to the donor is that any cash donation that is made to SANZAF for local initiatives can be claimed back from SARS. Donors can obtain a limited tax deduction (generally speaking of up to 10% of their taxable income in a tax year) in respect of the total donations made to approved organisations such as SANZAF.

As an example, if a donor earns R100 000 taxable income per annum and during that year had donated R10 000 to a PBO then the donor qualifies for a tax deduction of R10 000 from their total taxable income. This means that in this example, either he or she will have to pay tax on not R100 000 (total taxable income for the year) but rather R90 000 (R100 000 – cash donations of R10 000) for that year. As a result of its registration as a PBO, SANZAF is authorized by SARS to issue its contributors or donors with a Section 18A Tax certificate upon request. This will allow them to claim their donations tax deduction. In this way, you are able not only to assist SANZAF help those displaced from their businesses and homes but also other relief organisations in South Africa.