Are Zakat and the passing of the year stipulated for all types of wealth subject to Zakat?
Chapter on Zakat on Sheep
Al-Mughni
Book of Zakat
Primary text
The Hadith stating: "There is no Zakat on wealth until a full year has passed over it," is not absolute in its generality. The wealth subject to Zakat is divided into five categories: the pasturing An'am, currency (gold and silver), the value of trade goods, measurable and stored crops and fruits, and minerals. The first three—An'am, currency, and trade goods—require the passing of a full year for Zakat obligation, with no known disagreement except regarding newly acquired assets.
Supporting text
The last two categories, crops/fruits and minerals, do not require a Hawl. Crops and fruits are immediate growth and Zakat is taken upon their harvest. Minerals are considered newly acquired wealth from the earth, similar to crops and fruits, but if the mineral is of the nature of currency, Zakat is due annually because currency is a potential source of growth, being the value of wealth and capital for trade.