Measurements by means of the short-circuit (S/C) and open circuit (O/C) transmission line techniques are well established methods for investigating the magnetic and dielectric properties of magnetic colloids, respectively. In particular, the S/C technique has been used in the investigation of the resonant properties of ferrofluids; resonance being indicated by the transition of the real component of the magnetic complex susceptibility, χ( ω)= χ′( ω)− iχ″( ω), from a positive to a negative value at a frequency, f res. However, under certain circumstances, the accuracy of the S/C technique is affected by the dielectric properties of the sample, hence incurring errors in the measurement of χ( ω) and indeed of f res. Here we present a model which, by combining short-circuit and open circuit measurements, is developed in a manner in which the permeability, μ, and the permittivity, ε, contribute simultaneously to the calculation of χ( ω), thereby providing superior experimental results in comparison to those obtained by the S/C technique alone. For the two ferrofluid samples measured it is demonstrated that the dielectric properties affect the high frequency content of the susceptibility spectrum.