The calculator developed by CNH Capital, the finance company behind Case IH, allows farmers to enter the approximate cost of their new equipment so they can get an idea of how much the investment allowance benefit might be worth to them.

"There's also a finance calculator where they can compare a range of different finance products including mortgages and lease options," Case IH marketing manager Stuart Brown said.

"They can see how the finance package would change with various levels of deposit, balloon payment options, loan terms and interest rates."

Mr Brown says the calculator was a good starting point for farmers wanting to decide whether now is the right time to buy.

"It's designed to be very easy to use and to give a quick picture of what the small business tax break might mean for them based on the finance options they're most interested in," he said.

"Farmers should still talk to their finance or tax adviser before making any decisions, as eligibility will depend on their personal circumstances."

According to a draft of the Act, the proposed small business tax break for equipment purchases will be available to farmers who order by 31 December 2009, for machinery delivered by 31 December 2010.