The rules governing noise fall under municipal jurisdiction. Many municipalities have set limits on the number of decibels allowed and impose fines for violations.
Generally speaking, you may not disturb your neighbours with excessive noise. For example, if the noise from your ventilation system prevents your neighbours from sleeping, you will have to correct the situation.
Similarly, if your dog barks loudly and disturbs your neighbours, you may be ordered to correct its behaviour or get rid of it.