Infection Shield Inc. is a manufacturer of cleaning and disinfection products. One of its products Microbe Guard becomes popular during the Covid-19 spread. The product, registered with the drug regulatory authority, is considered to be 80% more efficient than the other surface disinfectants in the market. On 10 March 2021, Aussie Pharma a pharmaceutical company, enters into an agreement with the Infection Shield Inc. to have an exclusive right to use the formula of Microbe Guard for five years. Under the agreement, Aussie Pharma will pay 25% royalty to Infection Shield Inc. on the net revenue derived from the use of the Microbe Guard formula. On 13 March 2021, Infection Shield Inc. sells the right to these royalties to a third party, Andersons & Co., for $500,000. Required: Citing relevant legislation and cases, advise Infection Shield Inc. of the income tax consequences on receipt of $500,000 from Andersons & Co. (4 marks)

(Note: It is a complete question for the unit Taxation law(Australia)).