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Loan, Monthly Salary, Insurance, and Retirement Pension | Islamic Laws by The Leader Ayatullah Ali Khamenei

 


Loan, Monthly Salary, Insurance, and Retirement Pension


 


Q 861: Is it obligatory for employees having a surplus remaining over their annual expenses to pay khums, considering that they owe money which is due or should be paid in installments?


A: If the debt incurred during the year was for expenditure of the same year, or to purchase on credit some necessities for the same year, it is subtracted from the remaining income at the end of the year provided that they want to pay it from the gains of this very year; otherwise, the remaining income is liable to khums.


 


Q 862: A loan is acquired for performing hajj al-tamattu, should its khums be paid before using the balance for Hajj?


A: One is not required to pay khums on loaned money.


 


Q 863: I have paid an amount of money to a housing foundation over a period of five years for the purpose of purchasing a piece of land to build a house for myself. However, till now no step has been taken to deliver the land, and so I want to withdraw my money from the foundation. I obtained a part of that money on loan, another part came from the sale of the house carpet, and the rest from the salary of my wife, who is a teacher. Please respond to the following questions:

i. If I get the money back and spend it exclusively for buying land or a house, would it be subject to khums?

ii. How much khums should I pay?


A: In the given case that the money gained as a gift, through borrowing, or selling life necessary items is not subject to khums.


 


Q 864: Some years ago I acquired a bank loan and deposited it in my account for one year. I could not make use of the loan, but I had to pay its monthly installments. Is this loan subject to khums?


A: In the question, khums only applies to that portion of borrowed money whose loan installments you paid from your yearly gains by the end of the khums year.


 


Q 865: I have an outstanding debt on the house and I will remain indebted for 12 years, please enlighten me in regard to my liability to khums, i.e. is this debt to be subtracted from the gain of the year?


A: you are allowed to pay the installments of a loan which was spent last year for constructing a house and similar things from your gains during the year. But, if not paid, they are not subtracted from the years gains. The gains remained at the end of the khums year are subject to khums.


 


Q 866: Are the books bought by a student subject to khums if he does not have any source of income and buys them with his fathers money or with a loan given to him by the university? And what if his father has not paid khums on the money used to purchase the books?


A: The books that he buys with loaned money are not subject to khums. Those purchased with the money given to him by his father have the same rulings.


 


Q 867: if a person borrows an amount of money and is not able to pay off the loan before the end of year, should the lender or the borrower pay its khums?


A: The borrower does not have to pay khums on loaned money. However, in regard to the lender, if the money loaned was from his annual income prior to paying khums, and he can collect his money from the borrower before the end of his khums year, he has to pay khums on that money at the end of khums year. But if he is unable to collect the money before his khums year ends, he is not to pay khums now. He waits until he receives the money, then he should pay its khums.


 


Q 868: Are those who receive retirement pensions required to pay khums on their monthly salaries received throughout the year?


A: If it remains at the end of the khums year, it is subject to khums.


 


Q 869: The government of the Islamic Republic pays a monthly salary to parents of prisoners of war during the time of their captivity. Is it subject to khums if it is saved in a bank?


A: The said money is not subject to khums.


 


Q 870: I owe an amount of money and at the years end the lender has not asked for its repayment. At the same time, I have saved an amount from my yearly income enough to pay off my debt. Is this loan excluded from the annual income or not?


A: A debt incurred to provide for annual living expenses of the same year, whether by borrowing or by buying necessities on credit, that you want to repay is subtracted from annual income. But if the debt was incurred in previous years, it may be paid out of the annual income. However, if it is not paid off by the years end, it is not excluded from the annual income.


 


Q 871: Is the amount left after a persons annual expense liable to khums if he is in debt at the years end and has the opportunity to pay off the debt in several years?


A: Whether the debt is due immediately or deferred, it is not excluded from the annual income unless it was incurred for providing the expenses of the same year. In this case, only a part of his income of this year he uses to repay his debt is exempted from khums.


 


Q 872: Is money paid by insurance companies to the insured as a result of loss or injury subject to khums?


A: Khums does not apply to the money paid to the insured by insurance companies.


 


Q 873: Last year I borrowed some money with which I bought land, anticipating that its value would increase and planning to sell it along with my present house to be able to solve my housing problem in the future. Now, at the end of my khums year, can I exclude that loan from the last years income to which khums is applicable?


A: On the assumption that the money borrowed is used to buy land with the intent of selling it in the future, the borrowed sum is not subtracted from the annual income of the year in which it is borrowed. The entire amount of the yearly income after deducting living expenses is liable to khums.


 


Q 874: I borrowed from a bank an amount of money whose due date is after my khums year. I am apprehensive that if I do not pay it off this year, I will not be able to do it next year. What is my obligation in regard to paying khums at the end of khums year?


A: If you spend the annual income to pay off the debt before the years end and the loan was not for a capital increase, it is not liable to khums. But if the loan is for increasing the capital or you want to save the annual income, then you are obliged to pay its khums.


 


Q 875: For renting a house, people usually give a sum of money in advance. If this money is obtained from ones earnings and remains with the house owner for several years, is it obligatory to pay its khums immediately after receiving it? And What if one wants to rent another house with this very money?


A: It is subject to khums, but if one needs this money for renting another house, he may give the khums and get it back as a loan to pay it later.

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