Zakat Calculator

Zakat is 2.5% of the wealth you hold above the nisab once a full lunar year has passed. The calculator applies that rule in four steps.

1. Add your zakatable assets. Cash and bank balances, gold and silver at today's price, stocks, funds and crypto at market value, your RRSP or TFSA balance (if you follow the opinion that it is zakatable), investment property, business inventory and receivables, and loans you have made that you expect to be repaid. Your home, car and personal belongings are exempt and are not asked for.
2. Subtract debts due within the year. Credit-card balances, unpaid bills and the next twelve months of financing instalments. The full remaining balance of a long-term home financing is not deducted.
3. Compare with the nisab. The calculator fetches the live gold and silver price and converts the metal threshold (85 g gold or 595 g silver, AAOIFI/AMJA standard; 87.48 g or 612.36 g under the classical Hanafi standard) into CAD. If your net wealth is below the nisab you owe nothing.
4. Pay 2.5%. One fortieth of the net amount. The result is shown with a breakdown by asset class so you can see what drove it, and you can print or save the summary for your records.

The silver nisab is much lower than the gold nisab because silver is cheaper per gram. Most contemporary scholars prefer it for people with mixed assets, since it is the more cautious reading and brings more wealth into zakat. If you hold only gold, use the gold nisab.