Efficient modelling of the magneto-optic effects of transition metals such as nickel, cobalt and iron is a topic of growing interest within the nano-optics community. In this paper, we present a general discussion of appropriate material models for the linear dielectric properties for such metals, provide parameter fits and formulate the anisotropic response in terms of auxiliary differential equations suitable for time-domain simulations. We validate both our material models and their implementation by comparing numerical results obtained with the Discontinuous Galerkin time-domain (DGTD) method to analytical results and previously published experimental data.