Both the flag and the anthem mean a lot to me, and while I will strongly argue that Australia's history (with European settlement and exploration) is brutal and should not represent modern day Australian values of equality, respect ect.
I am of the belief that while our history should be taught, we should not be ashamed of our modern state.
And I will stand and sing the anthem if requested of me (that being said I will not go out of my way to start the anthem at a sports match or an event of any kind).
And with the flag I will stand for the flag, although I do believe that the flag should change and remove the Union Jack (The British symbol, St Georges Cross, St Andrews Saltire and St Patrick's Saltire.)
Because the flag does not represent the traditional owners of the land
I also believe that the flag should include our national colours
I also (from both a patriotic and a vexillology point of view) strongly believe that the flag is to be respected.
And the flag is NOT to be sat on and NOT to be worn and the flag is NOT to touch the ground.

Conclusion I will stand for both the anthem and flag.