Should I include my thesis supervisor as an author for new derived work?
If he hasn't participated in the new work he isn't really a co-author. Of course you cite the older work as usual and can also acknowledge his help in getting you started. 

However, if you want to continue the work with his participation before publishing then he would naturally be a co-author. 

Just working with you previously doesn't give him, or anyone, authorship on new work.