Q: Savings and a home are jointly owned equally by a married couple. The man is however responsible for payment of bills etc
a. Can the Zakat be calculated collectively i.e. clump the debts together on one side and the joint assets such as bank savings on the other.
b. How do you calculate payment for university fees, paid in instalments?
The zakah calculation date this year is 14th Ramadhan and payment has already paid for the first year. Payments for the second year start in Nov 2017 and need to be paid by the beginning of May 2018. Do I count this future payment of £9k or £9,250, whichever it may be, as part of this ramdhaans zakah calculation
c. Can two years of subsequent fees be deducted, despite the fees being payable annually rather than being attached to a full course?
A: For the zakat calculation, you and your wife are both responsible for your own zakat payment since it is an individual obligation. Therefore if you both share a saving account, you will be both responsible for your own share.
When you do your calculation you will add up all your zakatable assets and then deduct any liabilities from the amount. This will give you a net total asset to pay zakat on. Remember, only incurred liabilities prior to your zakat day are deductible and not bills related to future consumption.
In relation to the fees payable to the university, on your zakat day you will deduct any amount payable within 12 lunar months calendar, and pay the zakat on the remaining net asset amount.
For more information please see the following link:
Liability of Zakāh on Long-Term Loans – Al-Qalam Shariah …alqalam.org.uk
Liability of Zakāh on Long-Term Loans ~2~ The rationale to this ruling expounded by the fuqahaa’ is that to settle one’s outstanding debt