
The track, an unofficial Aussie national anthem, tells the story of a backpacker travelling the world and includes a number of iconic Aussie images - including the narrator being offered a Vegemite sandwich.
Featured throughout the song is a flute riff that has now been proved to be ripped off from the Aussie folk song "Kookaburra Sits in the Old Gum Tree."
The 5% awarded is a fraction of the 60% royalty claim Larrikin Music, owners of the copyright to "Kookaburra Sits in the Old Gum Tree" were seeking.
Lead man at work Scottish-born Colin Hay, who co-wrote the song with fellow bandmate Ron Strykert, has maintained that any reference to the Aussie folk song was "inadvertent, naive, unconscious".