I know someone who spent $150k building a mobile app startup. It is an amazing product, but in the end after a solid 6 months of marketing he found his target market isn't lucrative enough to make it all worthwhile. The startup is on hold, but quite likely might never make any money. His accountant told him that because the startup didn't make any money, the $150k is all 'black hole' and not claimable. He was advised the startup needs to make at least $20k of income, and only then it can start claiming the costs over a 5 year period. This didn't sound right to me. Is this right? (FYI he has also explored the R&D incentive and also the Export Marketing grant - both a no go).