Might be the 1949 recognition wasn’t even valid, because they were part of the British Commonwealth at the time, so if the UK hadn’t recognized Israel at that time, the Australian recognition is suspect, too. Like what if the state of Vermont decided to go around recognizing countries. Now Australia is a sovereign state, so its action has more meaning. But in 1949? I suppose exchanging ambassadors since then would count, so the question is now moot.
The UK recognized Israel de facto and de jure in 1949 and 1950 so that's a weak defense. Besides, Australia recognizes Israel, and it's capital Tel Aviv. Kangaroo power gives them the right to determine another countries capital. Rather arrogant. Israel should name Alice Springs as the capital of Australia.