Christians wife, Sally, is employed by Coopa Pty Ltd as a sales manager. Outside of work she does some ironing for a number of the executives of Coopa Pty Ltd as well as a growing number of personal clients. She is earning about $300 per week from this little side business. Christian and Sally do not have any children and are now too old to have any children. They have considerable assets, including a property which has been valued at $700,000. At a work Christmas party, Sally comes to you and says, Hey, should I set up this business as a company?

Please provide an advice for Sally as requested. As part of your advice, please discuss which business structures might be available and make a recommendation (you do NOT need to consider trusts, joint ventures or associations).