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Water shares. A water share is an ongoing entitlement to a share of the water available in your water system. It gives you a right to a share of water in the dams. Features of a water share include. 1  its water system, such as the Goulburn, Murray or Macalister. 2  its reliability, and. 3  the volume, such as 100 megalitres (ML).
If you hold shares to water access rights on a ditch that runs through your property, you have a deeded right to use a certain amount of water during the irrigation season. But if you do not own shares on a ditch that runs through your property, you cannot take or divert water from the ditch in any fashion, yet you must allow the ditch owner or representatives to access the ditch for maintenance.