When to Pay Zakat
Zakat (zakaat, zakah) is due once a year. However, a Muslim only pays Zakat when they have been in possession of the Nisab (minimum amount of wealth) for one full lunar year. This means that every Muslim pays Zakat at different times during the year, depending on the date from which they first met and sustained the Nisab.
The Islamic calendar (Hijri calendar) is based on the lunar calendar, and Muslims use the lunar calendar to determine a full lunar year from the date you first meet or exceed the Nisab.
You can then use this anniversary every year that follows to determine when to pay your Zakat – easy!
However, if you owe debt or fall out of the Nisab threshold throughout the year, you must meet the Nisab again and sustain it for a full year before you are Zakat eligible again.
When is Zakat due?
Zakat is due a year from the date that your total personal wealth and holdings met or exceeded the Nisab (minimum amount of wealth).
3 ways to ensure you keep track of when to pay Zakat
1. Take weekly or monthly stock of your personal wealth and holdings.
It can be a daunting task when you know that your Zakat due date is on the horizon. From the date that you meet or exceed the Nisab (minimum amount of wealth), or the anniversary of your last Zakat payment if you’ve managed to sustain your Nisab for another year, it could be helpful to take stock of what you own. We accumulate and cull assets all the time, and for some, these can be drastic changes throughout the year. Taking stock of your personal wealth and holdings on a regular basis prevents you from time and stress locating all that you own at the last minute.
2. Budget for your Zakat.
In a similar way we budget for things we’d like to do or purchase, taking stock of your earnings on a regular basis and calculating on a regular basis, can give you peace of mind estimating how much you expect to pay when you reach your Zakat payment due date.
3. Use a Zakat Calculator.
2.5% Zakat is incumbent on every Muslim who has been in ownership of the Nisab for one lunar year. However, manually calculating the cost of your personal wealth and holdings, as well as the Nisab and the Zakat percentage can be a little long-winded. Instead, use a reliable, free and easy to use calculator provided by Islamic Relief that also allows you to pay your Zakat straight away. Simple and efficient!