Almost every year my family pays Zakat Harta which includes my children's' savings. Now since I do not earn regular income and have used up my reserves, I would like to know if my children's savings are still liable for Zakat payment.
Your children's savings are still liable for Zakat once the haul and nisab are due. The Zakat, i.e. 2.5% from the wealth, should be deducted from your children's savings accounts respectively.
Related questions
How do I calculate Zakat on Savings for my multiple accounts? Can I take the lowest amount from each of my account books and take 2.5% as my Zakat on Savings?
Can I use Zakat on my children's savings for our family living expenses?
Which day of the month should I take to calculate my Zakat on Savings? Every end of the month? During payday? Every start of Islamic month?
Do I need to pay Zakat on my CPF monies that I am able to withdraw?
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