Asbestos is classed as a hazardous material and can only be disposed of at certain locations. Asbestos fibres are hazardous if inhaled, posing a risk of asbestosis and cancer of the lungs. If asbestos is found on your property, you should hire a professional to collect and dispose of it in a safe and legal manner.
There are several organisations involved in giving information and advice and regulating on the removal and disposal of asbestos. These include the Environmental Protection Agency (EPA Victoria), WorkSafe, the Department of Health & Human Services and local councils.
If you have an asbestos related question, a handy one-stop-shop of information is asbestos.vic.gov.au.