I am a little confused re the handling of Aust Franking credits.
The general feeling is that for NZ investors you cannot claim these and they are of no value.

However a NZ resident having a Term Deposit in Aust can claim the Aust "Non Resident Tax" deduction from interest payments, ( which appears to vary and can be as much as 10%), in there NZ Tax Return. Hence you have the option of declaring the Net amount and ignoring the Aust Tax effect, or declare the Gross amount and claim the Aust Tax.

Therefore you must be able to use the same principle with Aust Franking Dividends, eg Declare the Gross Franked Dividend amount ( the net amount paid plus the Franking Credit), and claim the Franking, or, declare the Net Amount paid ( after Franking calculations) and ignore the Franking effect..

As the Franking rate is 30% your choice would depend on your yearly Tax Ratio, (if over 30% then declare the Net ).

Could somebody confirm or rebut.

RWW