Yes, you could be right. This just reminded me of Pararguda because of the two yellow bands, but it's just a wild guess. I've taken this one home to hopefully see what it turns into. Even though it's a very picky eater...
was there a Cherry Ballart near the gum? A couple of sp eat that. Another thought - looking at http://lepidoptera.butterflyhouse.com.au/lasi/lasi-cats.html it may be Pinara cana or another sp http://lepidoptera.butterflyhouse.com.au/lasi/cana.html
There are only gum trees in the area it was found in. It was climbing up a gum tree, so I picked some leaves from that tree. It's been nibbling on the leaves, may just need to settle in its new home?