That
may be a Paper Mulberry tree,
http://weeds.brisbane.qld.gov.au/weeds/paper-mulberry
If so, you should also see some sprouts popping up from this tree, but the leaves of the young sprouts look totally different than the adult trees. Also, as the name implies it produces a mulberry; however, there are male and female trees and the male doesn't produce any fruit.
I had three male mulberry trees in my yard and I chopped them all down, because all they do is suck up moisture/nutrients from the soil and shade out other things I wanted to grow. Unless you have a female tree, I see these as garbage trees.
EDIT:
I forgot to mention that all the trees I cut down had a really bad insect infestation, but on the outside it looked ok, with a lot of foliage. However, I think it was in danger of coming down, because the insects really dug out a lot of its wood.