From 1990 and back, if the house was made within this time period, then there is a high chance the cladding, eave lining, and fencing are asbestos. 

There are rules in Western Australia, regarding how to approach asbestos, I have included links below for further reading, but the basics are, it can not be sanded or scraped exposing the asbestos fibers in the substrate it can only be washed down with a hose, no-pressure washing is allowed. 

In these photos, you can see a before and after of the asbestos shed sealed and painted.

It is best to seal the asbestos first with bondcrete, and then apply the color required. White or a light color is always recommended in a shed with no lights so the light can reflect and light up the room. It was cheaper for the client to have his asbestos shed sealed and painted than to have it removed and reclad.

This shed has been spray-painted with an airless spray gun, this type of spray gun sprays a lot of paint onto the surface, for instance, one pass with the spray gun is equal and or greater than 3 passes with a brush or roller. Even though this spray gun is very good, it is also very dangerous and should only be used by a trained professional tradesman.

Links to further reading on WA asbestos laws: 

Asbestos | Safe Work Australia

Asbestos: A guide for householders and the general public (health.gov.au)