In January 2020, Crispin was employed as a store manager by his employer that operated in the electronic device retailing industry. Upon his employment agreement, Crispin is entitled to buy two electronic devices per year on a substantially reduced price. On 5 March 2021, Crispin decided to buy two HP laptops for his family. He paid $600 per laptop to his employer. The laptop would usually be sold for $2,600 (GST inclusive) and cost the employer $1,500 (GST inclusive) to purchase. The employer decided to give Crispin 1 portable hard drive as a free gift for the purchase of the two laptops. The portable hard drive would usually be sold for $75 (GST inclusive) and cost the employer $25 (GST inclusive) to purchase.

Apart from those benefits, Crispins employer did not provide Crispin with any other benefits.

Required: Advise Crispin and his employer as to the FBT consequences (including calculation of any FBT liability) arising out of the above information for the 2020-21 FBT year. You must include the relevant legislation when possible.