Tax breaks for business investment could be extended to more companies after Federal Treasurer Josh Frydenberg asked Treasury and the Business Council of Australia to discuss ways to include larger companies that do not now qualify.

Business leaders have been pressing the government to rethink the eligibility cut-off that has meant that about 100 businesses, many of them local affiliates of global companies, will not benefit from the ability to instantly write off the full value of their investments between now and June 2022.