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Simon Obee from Employment Innovations introduces free downloadable employment contract templates for Australian businesses. These templates cover full-time, part-time, and casual employees. He emphasizes the importance of having an employment contract, which provides clarity on terms such as the employee's status (permanent or casual), start and finish times, entitlements for extra pay during long hours, notice periods for termination, and coverage under modern awards. Employers must also inform employees about award coverage in writing. An employment contract is essential to outline these details clearly.