The following are some frequently asked questions that we often encounter:
Our staff want to reduce their MTD/PCB by submitting a TP1 form. Where do we enter this in Talenox?
Do I key in the TP1 relief amounts per month or for the whole year?
My employee mentioned a "PT1" form. Is that the same thing?
What is a TP1 form?
The TP1 form is how an employee claims tax reliefs and rebates (for example, home loan interest) during the year, so that these are taken into account in their monthly MTD/PCB instead of only when they file their annual tax return.
The employee submits the TP1 form to their employer. Once the settings are set up in Talenox, the system uses them to calculate the employee's MTD/PCB more accurately.
Things to note:
Employees sometimes refer to this as the "PT1" form. The correct name is TP1, and it is set up as described below.
Here are the steps:
Step 1: Open the employee's TP1 Deduction setup
Go to Profiles > Employee Listing and open the employee's profile. Then go to Setup Accumulated Deductions > TP1 Deduction.
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Step 2: Fill in the employee's tax relief claims
Enter the relief claims from the employee's TP1 form.
For example, if the employee is claiming home loan interest, you will enter:
Property value
Year the sales & purchase agreement was signed
Start year of paying loan interest
Interest paid amounts for the eligible years
Things to note:
Key in the total amount for the whole year, not the monthly amount.
Example: For home loan interest, enter the total interest the employee expects to pay in 2026. To keep the deduction accurate, also fill in the interest paid in the first year, second year and final year of eligibility, not just the total.
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Step 3: Run payroll as usual
Once the TP1 deduction is saved, Talenox applies the reliefs automatically when calculating the employee's MTD/PCB in payroll. No further action is needed in the payroll run itself.