Business leaders are pressing Treasurer Josh Frydenberg to expand the budget's corporate investment tax break, warning him that more than 100 big companies will miss out on the government's incentive designed to stimulate capital spending.

The offshore earnings of foreign affiliates will count towards the $5 billion "aggregate turnover" eligibility cut off, ruling out a diverse range of companies such as paint manufacturer Dulux and food and beverage company Lion owned by Japan's Kirin.