Don't I wish.

Australian laws are loosely based on British Treasure Trove laws, but since this isn't a land that's been occupied by Western civilization for very long, there's not too much "treasure" to be found.
Detecting on private land is OK, and anything you find is pretty much yours to keep, though there may be an expectation that large quantities of gold or silver coin would be reported to police, in case it's lost/stolen property; I think a coroner might have to make a ruling, like in the UK. But generally, such items are returned to the finder and/or the landholder. If your family's owned the land for generations, it was probably your ancestors that put it there in the first place.
Detecting on public land is usually permissible; I don't think most schools, parks etc have much of a problem with it. Some historic sites (eg WWII POW Camps) wouldn't allow it, and neither would Aboriginal sites (just as Native American sites are in North America, I expect) but you're not going to find aboriginal stuff with a metal detector anyway.
There are some Australian detectorist forum members who probably know the local laws here better than I do.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis