As far as storage goes, to be legal and in compliance with the info on the Department of justice's page (SOR/98-209), all you have to do is the following:
If the firearm is non restricted
- Unloaded
- Trigger Locked or Bolt removed OR
- Stored in Container or Room that cannot readily be broken into
If restricted
- Unloaded
- Trigger Locked or Bolt removed AND
- Stored in Container or Room that cannot readily be broken into
The ONLY way to get around not trigger locking the restricted firearms is to store them in a vault, safe or room SPECIFICALLY constructed for storing said firearms. The Stack On type cabinets won't cut it.
Ammo can be stored in the same Container or Room with the firearm OR in any other location that is not readily accessible if someone were to get a hold of a firearm.
Those are the Laws. I've printed them out and have them posted on the inside of the locker my firearms are in.
Some Provinces have additional rules and regulations so you have to be sure you know what's specific to you.