When a person acquires wealth which equals the nisaab and the wealth remains with him for an entire lunar year from the first day he acquired the wealth, then zakaat becomes compulsory on that wealth. ^[1]

E.g. Zaid acquired R3 000 (which is the nisaab amount) on the first day of the lunar year (1st of Muharram 1434). This wealth remained with him for an entire lunar year. On the 1st of Muharram 1435, zakaat will be compulsory upon the wealth.