Zakat Calculator NZ

This zakat calculator works out how much zakat you owe on your wealth, using the standard rate of 2.5% applied to your net zakatable assets. Enter your cash and bank balances, the current market value of any gold and silver you hold, your shares and other investments, and business assets such as trading stock and invoices you expect to be paid. Then enter the debts you are due to pay now, which are deducted, and the current nisab threshold in New Zealand dollars. The calculator adds up your zakatable wealth, subtracts your debts, and compares the result with nisab: if your net wealth is at or above the threshold, zakat is due at 2.5% of the full amount, and the calculator shows the figure to pay. Nisab is defined by weight of gold or silver, so its dollar value moves with metal prices; many New Zealand charities publish an updated figure, and the silver-based nisab is the lower and more cautious choice for cash wealth. Remember the hawl condition: zakat falls due once the wealth has been held for a full lunar year. Personal items such as your home, car and furniture are exempt, and for anything unusual ask your mosque or a qualified scholar.

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Nisab moves with gold and silver prices. Check a current NZD figure with your mosque or a zakat charity.

$500.00
zakat due this year
Zakatable wealth$20,000.00
Nisab threshold$1,150.00
Rate applied2.5%

Your net zakatable wealth of $20,000.00 is at or above the nisab of $1,150.00, so zakat is due: 2.5% of $20,000.00 is $500.00.

Zakat falls due after the wealth has been held for a full lunar year (hawl). The 2.5% rate applies to monetary wealth; different rates apply to crops and livestock. Guide only, not a religious ruling.

How it works

The calculator follows the standard method used by zakat charities. Zakatable assets are the things scholars broadly agree attract zakat: cash in hand and in bank accounts, gold and silver at today's market value, shares and managed investments, and business assets in the form of trading stock and receivables you expect to collect. Debts due for payment now are deducted to give your net zakatable wealth. That net figure is compared with nisab, the minimum wealth at which zakat applies, defined as the value of roughly 87.48 grams of gold or 612.36 grams of silver (some scholars use 85 and 595 grams). If your net wealth is at or above nisab, zakat is 2.5% of the entire net amount, not just the excess over the threshold. Personal-use assets, your home, car, furniture and clothing, are exempt. Where scholars differ, for example on KiwiSaver or on shares held long term versus for trading, the calculator takes the simple market-value approach, so seek specific guidance for anything material.

Worked example

You hold $12,000 in cash and bank accounts, $3,000 of gold and silver, $8,000 in shares and investments, and $2,000 of business stock and unpaid invoices, a total of $25,000. You owe $5,000 in debts due now, so your net zakatable wealth is $20,000.00. Against a nisab of $1,150.00 the net wealth is comfortably above the threshold, so zakat is due at 2.5%: $20,000.00 multiplied by 0.025 gives $500.00 to pay. If your net wealth had been below the nisab figure, no zakat would be due this year.

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Frequently asked questions

What is nisab and how much is it?

Nisab is the minimum level of wealth at which zakat becomes payable. It is defined by weight of precious metal: commonly 87.48 grams of gold (some scholars use 85 grams) or 612.36 grams of silver (some use 595 grams), converted to local currency at current prices. Because silver is much cheaper than gold, the silver-based nisab is far lower, and many charities recommend it for cash-based wealth so that more is given to those in need. Check a current NZD nisab figure with your mosque or a zakat charity before you calculate, and enter it in the nisab field.

How is zakat calculated?

Add up your zakatable assets: cash and bank balances, the market value of gold and silver, shares and investments, business stock and money owed to you that you expect to receive. Subtract debts due for payment now. If the net amount is at or above the nisab threshold, and it has been held for a full lunar year (hawl), zakat is due at 2.5% of the whole net amount, not just the part above nisab. For example, 2.5% of $20,000 is $500.

Do I pay zakat on my house and car?

No. Personal-use assets such as the home you live in, your car, furniture and clothing are exempt from zakat. However, property or vehicles bought with the intention of resale are trading stock and their market value is zakatable, and rental income you have accumulated as savings counts as cash. KiwiSaver and other retirement savings are treated differently by different scholars because access is restricted, so ask your mosque or a qualified scholar how to treat them.