Wow so many misconceptions in this thread.
First off, the single most important reason why the average Canadian applicant applies 2.7 times to get accepted to med school is the intense competition. This is due to the fact that there are fewer med schools and no private institutes. This in turn means that the majority of applicants have one or two at most in state or in province schools. The out of state schools only offer a max of about 15% of their seats to those students. This means most schools only interview less than 100 students OOP/OOS. Most schools won't even review an OOS applicant with a GPA less than 3.7.
Second, Canada generally places less emphasis on the MCAT. One could make an argument that Canadian schools have similar education and the issue of standardization is less than in the U.S-- I don't know if this is true, but I suspect it is. Regardless, at most schools the MCAT is either a cut off, or only CARS/VR considered, or at most considered as part Of wholistic review. Therefore it's highly artificial to compare MCAT scores with that of an American school because there simply is not the same drive to score high and test repeatedly as in the US. However, this means GPA is King, and the averages at Canadian schools are Top 10 like.
Third, clinical experiences in Canada are much less common. This is probably the number one barrier for Canadian students applying to the United States. This is in part due to our legal and healthcare system, and very strong discouragement by provincial medical licensing authorities for non-medical student shadowing or even coming near patients.
Fourth, the university of Toronto is world renowned and is as close to elite as possible. I am willing to bet good money that residency directors would consider it in the same caliber as an U.S top ten. However, I don't think u of t has the same kind of finances that a private institute like Harvard, Stanford or Yale has. So I would place it more in comparison with top public institutes like UCSF.