1. Simply declare the item on your Customs Declaration upon re-entry to Canada. Have the receipt handy and you will have no issues.

2. If you are concerned about what the duty might be, you can look that up on CC's website and simply apply it to the purchase price. Likely minimal.

3. If you don't declare and get caught, at an absolute minimum, you will pay a significant penalty, forfeit the item and be flagged for secondary inspection from now until the end of time. Not worth it.