Key takeaways
- Nisab: 87.48 g of gold or 612.36 g of silver, valued at today’s price.
- Zakat is 2.5% of zakatable wealth held for one lunar year.
- Scholars differ on details; ask your imam if you are unsure.
What is the nisab in Canada today?
The nisab is the minimum amount of wealth a Muslim must hold for one lunar year before zakat becomes due. It is set by weight: 87.48 g of gold or 612.36 g of silver. Some mosques, including Ummah Masjid in Halifax, use 85 g of gold and 595 g of silver, so the calculator lets you choose.
Because the nisab is a weight, its dollar value changes with the gold and silver price every day. The calculator uses today’s international price in Canadian dollars, converted at the Bank of Canada rate. Gold-based and silver-based nisab give very different numbers; which one to use is a question of school and of what benefits the poor, so follow the guidance of your scholar or mosque.
What counts as zakatable wealth?
Commonly included: cash at home and in the bank, savings, gold and silver, investments and shares held for trade, business stock and money owed to you that you expect to get back. Commonly deducted: debts that are due now.
Opinions differ on jewellery that is worn regularly. Some scholars say it is zakatable and others say it is not. If you hold gold jewellery, ask your imam which view to follow and enter only the gold that applies.
When should I calculate zakat?
Zakat is due once a lunar (Hijri) year has passed while your wealth stayed at or above the nisab. Many people choose a fixed date each year, often in Ramadan, and calculate on that date. Because a lunar year is about 11 days shorter than a calendar year, the date moves earlier each year in the Gregorian calendar.
Use the value of your gold and silver on your zakat date, not the price when you bought it. This calculator uses today’s price, so open it on the day you calculate.
How is zakat calculated?
- Add up your zakatable wealth on your zakat date.
- Subtract debts due now.
- If the total is at or above the nisab, zakat is 2.5% (one-fortieth) of the total.
For example, with $20,000 in zakatable wealth above the nisab, zakat is $500. Many people in Canada pay zakat in Ramadan; see Ramadan 2027 for the expected dates.
What to do next
Check today’s gold rate on the gold price in Canada page, and the silver price on the silver price in Canada page. To weigh your gold by karat, use the gold value calculator.