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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).
share. 1  a part or portion that belongs or is allotted to an individual, or the part contributed by an individual. 2  a just, due, reasonable, or full part or quota: to do one's share of work. 3  any of the parts or portions into which the ownership of a piece of property is divided.