When to Pay Zakat?
Zakat (zakaat, zakah) is only collected once a year. A Muslim only pays Zakat after possessing the Nisab (minimum quantity of money) for one full lunar year. This means every Muslim pays Zakat at different times of the year, based on when they first met and supported the Nisab.
The Islamic calendar (Hijri calendar) depends on the lunar calendar, and Muslims use the lunar calendar to calculate a full lunar year beginning with the day when the Nisab first met or exceeded the Nisab
You may then use this anniversary to decide when to pay your Zakat each year after that – simple!
When is Zakat due?
Zakat is required one year after all of your personal wealth and holdings exceed or meet the Nisab (minimum amount of wealth).
3 ways to ensure you keep track of when to pay Zakat
Take weekly or monthly stock of your personal wealth and holdings
When your Zakat due date is approaching, it can be a daunting task. It may be useful to take stock of what you own as of the day you meet or surpass the Nisab (minimum amount of wealth), or as of the anniversary of your previous Zakat payment if you’ve managed to sustain your Nisab for another year. We constantly collect and deplete assets, and for some, these might be significant changes throughout the year. Taking frequent stock of your own wealth and possessions saves you time and worry in identifying what you own at the last minute.
Budget for your Zakat
Taking stock of your earnings on a monthly basis and calculating on a regular basis, in the same way, we budget for items we want to do or purchase, can offer you peace of mind about how much you expect to pay when you approach your Zakat payment due date.
Use a Zakat Calculator
Every Muslim who has owned the Nisab for one lunar year is required to pay 2.5% Zakat. Manually deciding the value of your own wealth and holdings, as well as the Nisab and Zakat percentages, can be time-consuming. Instead, utilize Islamic Relief’s dependable, free, and simple calculator, which also allows you to pay your Zakat right now. Simple and effective!