Q: I have stopped working a few months ago. I was self employed and saved up some money. At the moment me and my husband are in abroad studying and we are hoping to stay here for a few months at least if not longer. My husband is also unemployed. He has no savings. Do I still need to pay Zakat on my savings. Also I am planning for children and will not be entitled to maternity leave. Possibly statutory pay but that will be minimal. I was hoping my savings could cover my maternity and our stay abroad . Please could you inform me if I still need to pay Zakat

A: Zakat is not based on whether you have an income or not, rather it is based on the amount of wealth that you have on the Zakat anniversary date. At NZF we hold the opinion that zakat needs to be paid once a year and the calculation will be based on what you have on your Zakat anniversary date. This method of calculation is the easiest way to calculate Zakat and it is in line with the Hanafi school of jurisprudence.
Hence, on your Zakat anniversary date, you will have to add all the zakatable assets which you have, minus any current liabilities; if the resulting net amount is either equal or above the nissab on the day, then you will pay zakat on the total, otherwise if the resulting net amount is below the nissab then you will not have to pay anything.
As for your husband, he will have to do the same for his zakat calculation, so if he has nothing which at least, equals the nissab level on that day then he will not have to pay zakat.
Note: If you can’t pay the Zakat in full when the time comes, then you can pay it in instalments or as soon as you are able to pay it in the future.