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Simon Obee from Employment Innovations discusses free downloadable employment contract templates for businesses in Australia, available through a provided link. These templates cater to full-time, part-time, and casual employees. Obee highlights the importance of having an employment contract to clarify employment terms and conditions, including employee status (permanent or casual), work hours, entitlement to extra pay for extended hours, required notice periods for termination, and award coverage and classification. Employers must provide this information in writing, emphasizing the necessity of formal contracts to avoid misunderstandings.