Yes Dave, I think a lot of Australians think that it is, too.

Here are the full lyrics from the site I linked to in my first post:

I Am Australian
The Seekers
I came from the dream-time
From the dusty red-soil plains
I am the ancient heart
The keeper of the flame
I stood upon the rocky shores
I watched the tall ships come
For forty thousand years I've been
The first Australian

I came upon the prison ship
Bowed down by iron chains
I bought the land, endured the lash
And waited for the rains
I'm a settler, I'm a farmer's wife
On a dry and barren run
A convict, then a free man
I became Australian

I'm the daughter of a digger
Who sought the mother lode
The girl became a woman
On the long and dusty road
I'm a child of the Depression
I saw the good times come
I'm a bushie, I'm a battler
I am Australian

We are one, but we are many
And from all the lands on earth we come
We'll share a dream and sing with one voice
"I am, you are, we are Australian"

I'm a teller of stories
I'm a singer of songs
I am Albert Namatjira
And I paint the ghostly gums
I'm Clancy on his horse
I'm Ned Kelly on the run
I'm the one who waltzed Matilda
I am Australian

I'm the hot wind from the desert
I'm the black soil of the plains
I'm the mountains and the valleys
I'm the drought and flooding rains
I am the rock, I am the sky
The rivers when they run
The spirit of this great land
I am Australian

We are one, but we are many
And from all the lands on earth we come
We'll share a dream and sing with one voice
"I am, you are, we are Australian"

We are one, but we are many
And from all the lands on earth we come
We'll share a dream and sing with one voice
"I am, you are, we are Australian"
"I am, you are, we are Australian"

Songwriters: Bruce Woodley / Dobe Newton
I Am Australian lyrics © Spirit Music Group, BMG Rights Management US, LLC