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This is generally a complicated question because there are many rules from different parties that are applicable. Some airlines ban all valuables from checked-luggage and recently there were conditions that forced laptops to be checked on certain flights.
Luckily for Canada things are simpler. The security authority that has the final say is CATSA and they publish the rules here.
The laptop itself is not banned but you must consider the battery in it. For batteries under 100 Wh, they are allowed in checked luggage if they are mounted in the device. If they are outside of the laptop, then the airline has the final word but it is OK from a security standpoint.
If the battery is between 100 and 160 Wh, then you need approval from the airline but again is OK from the perspective of CATSA. Specifically for Air Canada, those are not allowed in checked baggage but are OK in carry-on. So check the rating on your laptop battery. You can usually find this in the specs for the battery online or printed onto the battery but that requires opening the laptop on some models. The Air Canada rules about batteries are here.