Family returns, new homes and home-based businesses
Accountant Serving Komoka and Middlesex Centre
Komoka and Kilworth have changed from quiet villages west of London into one of the busiest places to buy a new home in Middlesex County. A 2021 county growth study found that Komoka-Kilworth held about three quarters of Middlesex Centre’s planned housing supply, and the families moving into those subdivisions bring young kids, first mortgages and, often, a business run from a spare bedroom.
A&P Accounting & Tax Experts helps those households with family tax returns, new-home HST rebates, FHSA and Home Buyers’ Plan questions, and the move from side hustle to sole proprietorship to corporation. We handle the CRA forms so you can get back to unpacking.
Our downtown office is 15 to 20 minutes east along Oxford Street West, and Middlesex Centre families can work with us completely online.
- 5.0 stars on Google
- Downtown London office
- In person or fully online
- Open Saturdays
Where we help
Accounting Services for Middlesex Centre Families and Businesses
Life in Middlesex Centre tends to come in bundles: a new house, a new baby and a new business in the same couple of years. These four services cover most of what Komoka, Kilworth and Ilderton households ask us for.
Family Tax Returns in Komoka and Kilworth
Both spouses’ T1 returns prepared together, with child care, the Canada Child Benefit, FHSA and RRSP deductions coordinated across the household rather than claimed in isolation.
Self-Employed Tax for Middlesex Centre Home Businesses
Form T2125 for consultants, trades, daycare providers and online sellers, with home office, vehicle and CPP on self-employment worked out properly.
New Housing Rebates and HST Returns
Self-filed GST/HST new housing rebates for buyers whose builder did not credit them, plus HST registration and returns for home businesses past the $30,000 threshold.
Incorporating a Komoka Business
Ontario incorporation with a NUANS name search and CRA business number setup, once the numbers show a corporation will actually save you tax.
Life-stage tax
Tax Moments for Growing Families in Komoka and Kilworth
The years when you buy a house and start a family are the years when small tax decisions add up fastest. Miss a rebate or file late and you can lose thousands; get the timing right and the CRA effectively helps with the down payment and the daycare bill.
Buying a New Build: The Ontario New Housing Rebate
Ontario’s standard new housing rebate returns up to $24,000 of the provincial HST on a new home. For agreements signed between April 1, 2026 and March 31, 2027, Ontario’s enhanced rebate can raise that to the full 8% provincial portion, up to $80,000 on homes valued up to $1 million.
Builders commonly credit the rebate at closing in exchange for you assigning it to them. If yours did not, or you built the house yourself, you file directly through our GST/HST rebate service for Middlesex Centre buyers.
First Home Savings Account and the Home Buyers’ Plan
Renters moving out of London can save up to $8,000 a year, to $40,000 in total, in a First Home Savings Account. Contributions are deductible like an RRSP and withdrawals for a qualifying first home are tax-free.
The Home Buyers’ Plan lets each buyer borrow up to $60,000 from an RRSP, repaid over 15 years. You can use both for the same home, and we plan which dollars to put where.
Canada Child Benefit and Child Care Expenses
The Canada Child Benefit is recalculated every July from your family’s net income on the previous year’s returns. If either spouse files late, payments can stop until the CRA has both returns.
Daycare, day camps and before-and-after school programs are deductible, generally by the lower-income spouse. Ontario’s CARE tax credit can add more for families with lower incomes.
| First Home Savings Account | Home Buyers’ Plan | |
|---|---|---|
| Limit | $8,000 a year, $40,000 lifetime | Up to $60,000 per person from an RRSP |
| Tax deduction | Yes, for contributions | Only the original RRSP contribution |
| Pay it back? | No | Yes, over 15 years |
| Use both together? | Yes, for the same qualifying home | |
Closing on a new home in Komoka?
Call us before your closing date so no rebate, FHSA or HBP dollar is left on the table.
Home-based business
Running a Business From Home in Middlesex Centre
A home-based business in Komoka is taxed like any other sole proprietorship: income and expenses go on Form T2125 with your T1 return, and you pay both halves of CPP on the profit. The difference is in the details of the home office.
If the space is your principal place of business, or used only for the business and regularly for meeting clients, you can deduct its share of heat, hydro, water, insurance, property tax and mortgage interest. That share is usually based on square footage, and claiming capital cost allowance on the house itself is rarely worth it because of the tax it can trigger when you sell.
- Register for HST once sales pass $30,000 over four consecutive calendar quarters
- Keep a mileage log if you drive to clients in London or Strathroy
- Consider incorporating once profit regularly exceeds what your family spends
- On acreage properties, separate a real farm business from a hobby before claiming losses
That last point matters on the rural lots around Kilworth, Delaware and Birr. Hobby-scale farming is personal, a part-time farm faces the restricted farm loss cap of $17,500 a year, and only a registered farm business qualifies for Ontario’s reduced farm property tax class.
Communities We Serve in Middlesex Centre
Middlesex Centre was formed in 1998 when Delaware, Lobo and London townships merged, and today it wraps around London’s north and west sides. The Komoka Wellness and Recreation Centre, opened in 2011 with two NHL-size rinks, has become the area’s gathering place, and Komoka Provincial Park protects a stretch of the Thames River valley right next door.
- Komoka and Kilworth, the fast-growing pair along Glendon Drive.
- Delaware, just south across the Thames.
- Ilderton and Arva, north of London, where many families commute into the city each day.
- Coldstream and Birr, smaller rural communities with plenty of acreage properties.
All of them are within about 25 minutes of our Wellington Street office.
Kilworth, Ilderton, Delaware: we file for all of Middlesex Centre
Call for a family-return quote or to ask about a new housing rebate.
Komoka Accounting FAQs
New houses, acreages and home businesses drive most of the questions we get from Komoka and the rest of Middlesex Centre.
Can I still claim the new housing rebate if my builder didn't credit it?
Yes. If the builder did not credit the rebate on your statement of adjustments at closing, you can apply to the CRA yourself on Form GST190, along with Form RC7190-ON for the Ontario portion. The general time limit is two years from the date ownership was transferred to you, so do not let the paperwork sit.
We gather the agreement of purchase and sale, the statement of adjustments and proof of occupancy, then file the application and follow it through to payment.
Is my acreage a farm for tax purposes?
Only if you farm it with a reasonable expectation of profit. A few hay acres or a backyard flock usually count as personal use, and the costs are not deductible.
If it is a real but part-time farming business, losses are deductible but capped at $17,500 a year under the restricted farm loss rules when farming is not your main source of income. Separately, the lower farm property tax rate needs an Agricorp Farm Business Registration, which requires at least $7,000 in gross farm income.
Should I incorporate my home-based business?
Usually not until the business earns more than your household needs to live on. Incorporated active business income in Ontario is taxed at a combined 11.2% on the first $500,000 since July 1, 2026, but money you pay yourself is taxed again personally, so the savings come mostly from profit you leave in the company.
Incorporation also adds a T2 return, separate bank accounts and annual Ontario filings. Our business incorporation service for Middlesex Centre owners starts by testing whether the numbers justify it.
We both work in London. Does it matter which of us claims child care?
Yes. In most two-parent households the child care expense deduction must be claimed by the spouse with the lower net income, up to $8,000 per child under 7 and $5,000 per child aged 7 to 16. We prepare both returns together so the claim lands where the law requires and your Canada Child Benefit is calculated correctly.
Schedule a Call With a Middlesex Centre Accountant
Tell us what is new this year: a house, a baby, a business or all three. We will tell you what to gather, which rebates and credits apply, and what our fixed fee will be.