I have one iMac with 2 users. Will Home sharing allow me to share music between users? (running Mac OS 10.8.2

I just seemed to get turned around when trying to share music on the same iMac.

How do I share music between two different users with two different iTunes accounts on the same iMac. My wife and I simply want to be able to share music that she purchases with me and visa versa. We each have our own iPads and I am unsure of the proper way to do this so I don't messup the syncing of our iPads.

Part of the reason I ask is that I see questions concerning two different computers. Does it make any difference that I am trying to share music between two users on the same iMac

Thank you in advance for information helping me to understand the Home Sharing process.