I'm just going to go ahead and repost this every time this question is opened. Again.
I AM NOT A LAWYER AND THIS IS NOT LEGAL ADVICE. But the new regulations are pretty loose, and pretty easy to interpret. This is my interpretation of them.
What's a storage unit?
It's not your house or apartment. It's not a dwelling, container or place in your house or apartment. Did you build a nice box to put your stuff in, and keep it in your reloading room or a closet or the garage or whatever? Good for you. But it's not a storage unit.
EDIT: I just want to restate this, because I found it super confusing when I first read the act. The definition of a storage unit essentially means that, if it's something you have inside your dwelling, it's not a storage unit.
What's a licensed user?
Does your PAL/RPAL specify that you need to keep your ammo in a magazine? No? Then that should be a clue as to what 'license' is for the purposes of the act. It's not your PAL. So, unless you have a license to deal with explosives, you are an
unlicensed user.
How can I store my ammo? I like ammo.
We've already discussed what a storage unit is. Are you using a storage unit? Almost certainly not, unless you have a bunker out back. So you are probably storing it in your dwelling. Let's look at the requirements for storing ammo in a dwelling:
OK, so we can store up to about 500 lb of ammo. This doesn't include the brass, projectiles or packaging-- just the explody stuff like powder and primers, so that's a LOT.
You need to store it away from fire. DUH.
You must not give unauthorized people access to the cartridges. What does this mean? IANAL but it sounds to me like you have to have some reasonable measure of security for your ammo. In a locked box or a locked room, and not on the kitchen table, would be my guess. But like I said, I'm not a lawyer and this isn't legal advice. I keep mine locked up the same way I keep my other incredibly rare and expensive and difficult to find things locked up. 
And that is literally all the regs for ammo storage in the act, if you're not storing them in a storage unit. TA-DA!
Where can I store powder and primers? There's some room in the fridge.
Once again, you are almost certainly an unlicensed user. So:
So same deal. You can store powder and primers in a storage unit or a dwelling. Are you storing them a in a storage unit? No? You have them in your reloading room or in a closet or whatever? OK then, all you need to worry about is sections 299 - 304. Let's look at those.
OK, so keep your powder in the jars or jugs it came with and don't be a damned fool and dump all your primers in a big jar.
How much powder and how many primers can I have? A lot? A little? I want a lot.
This is covered by sections 300 - 301. There's a lot of text, so I'll just summarize:
1) I'm about to lay out some max quantities. Remember that the max you can have on hand
includes any powder you have sitting in loaded cartridges
2) Are you
in a detached dwelling? I.e.: something other than a place where a bunch of different families are living? Like, you live in a regular
house? Then
you can have 25 kg, of which no more than 10 kg is black powder
3) Oh you're
NOT in a detached dwelling? You're a poor urban
apartment dweller? Sucks to be you . Then
you can have 20 kg of powder in total, UNLESS you have ANY OF IT in a container that holds more than 1 kg. Then you can only have 5 kg in total.
There's an interesting passage earlier:
Wait! So I can have one billion primers? According to the act, you can have ONE BILLION primers if you want, as long as they're in their original packaging. Use them as furniture, I don't care.
What about all the crazy storage requirements? Mahogany boxes with letters of flame a thousand feet high or whatever?
No. These are the requirements laid out in the act for storage in a dwelling:
That's IT. The stuff below is for when you store stuff in a storage unit which, by definition, is not something you can have inside a dwelling.
Who can make ammo? Can grandma reload? What about my dog?
This stuff is laid out in section 305 and is super long, so I'll just summarize here:
1) You must be 18, or you must be supervised by someone who is 18
2) The place you're doing the reloading must have a means of escape to let everyone leave quickly. A door and some stairs is probably a pretty good means.
3) Be careful when handling explody stuff to try to make sure it doesn't burn or explode! There's nothing specific here, but I'd say at a minimum put out that damned cigar.
4) Keep the labels on your powder and primer containers. We've already covered the fact that you need to keep them in the original packaging so this one should be a no brainer
5) You can't have more than 2 kg of smokeless powder within 1 m of your loading area. This is just reloading common sense. Put your powder away when you're not working with it.
6) You can't have more than 500 g of black powder within 1 m of your reloading area.
7) No incendiaries or 'military components or devices'. I have no idea what that last bit is but this won't apply to 99.9% of reloaders.
8) No more than 150 primers/percussion caps in the loading mechanism at any time. This is also just reloading common sense, IMO. Doesn't mean you can't have spare filled primer tubes hanging out and ready to go.
