PSL is a shortcut for --->'Protection of the Sea Levy'.
The Protection of the Sea Levy (PSL) is a tax that is levied on the shipping industry in Australia to fund the activities of the Australian Maritime Safety Authority (AMSA). The PSL is used to finance a range of activities, including search and rescue operations, pollution response, vessel safety inspections, and the maintenance of navigation aids.
The PSL is levied on a range of shipping activities, including the import and export of goods, the movement of passengers and vehicles between Australian ports, and the operation of offshore oil and gas facilities. The rate of the PSL is based on the gross tonnage of the vessel and the type of shipping activity being conducted.
For example, a shipping company that operates a vessel that is used to import goods into Australia might be required to pay the PSL on the gross tonnage of the vessel and the value of the goods being imported. A shipping company that operates a passenger ferry service between Australian ports might also be required to pay the PSL on the gross tonnage of the vessel and the number of passengers being transported.
Overall, the Protection of the Sea Levy (PSL) is a tax that is levied on the shipping industry in Australia to fund the activities of the Australian Maritime Safety Authority (AMSA). It is used to finance a range of activities, including search and rescue operations, pollution response, vessel safety inspections, and the maintenance of navigation aids. The PSL is levied on a range of shipping activities and is based on the gross tonnage of the vessel and the type of shipping activity being conducted.