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Simon Obee from Employment Innovations discusses free downloadable employment contract templates available for Australian businesses. These templates cover full-time, part-time, and casual employees. He emphasizes the importance of having an employment contract, as it provides clarity on employment terms including the employee's status (permanent or casual), work hours, overtime pay, notice period for termination, and award coverage. Employers are required to provide information about award coverage in writing. Establishing these details in an employment contract helps ensure both parties understand their rights and obligations.