You are allowed to take 200 rounds of hunting ammo or 1500 rounds of ammo for a recognized shooting competition. Any amount over this will require a tax be paid. Also note that magazines that hold over five rounds for long guns, or ten rounds for handguns are normally forbidden (there are some exceptions).
Canada Welcomes You WebsiteCanadian Firearms CentreNone of the regulations that I've examined prohibit "hollow point ammo".
Jim