australian franking/imputation credit

[Peter Garrone]

What to do with these? Is this valid?
With the franking credit comes either a check or new shares, so add that
to dividends in the usual way.
There is an associated imputation credit that is a withholding tax.
At tax time, it adds to the total taxable income, but subtracts 
from total tax, so is in effect dividend deferred until tax return.

So Add this imputation credit to the dividend account, and subtract it
from wherever the tax return goes.