Hi Chris
That shape is very similar to the shield shape used on the Australian RSL (Returned Services League) and the "year clasp" is just like the ones on the RSL badge.
From memory, the RSL chose the shield as it was said to "protect the wearer". An Australian member might be able to correct this or back it up.
Your badge appears to have the split pins that many Australian association badges have. These can be two "loops" such as is found on most cap/ collar badges or (for later badges) a curious double loop punched out of a piece of material. It was clearly less prone to breakage.
You may also find a mark such as "STOKES & SONS" or "SWANN & HUDSON" but not all badges were maker marked.
Those coloured squares, etc. will be unit patches, I would think.
Hope this helps. I have the Vietnam Vets badge put away somewhere!
I don't think that you will be able to identify the owner as the association would have held the records.
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