Hi I am thinking of renting out a section of my house and supplying all the necessary equipment needed in order to run the business. This is for the company that employs me.

I was wondering what is the best way to structure such an endeavor, the extra income will send me into a new income tax bracket.

Will it be better to register a private company PTY LTD and work through that if that is even possible for a one man show. Or would it be better to leave it as a sole proprietorship and deal with the extra income through my own name?

Thank you for any advice!