$1500/M for the rental, how big is the apartment? It's only suitable for short period, I think.(At least I cannot afford that.:) )
GTA is a very large area, including Metro Toronto and a lot of smaller cities. If you live in Metro Toronto(Toronto, Etobicoke, North York, Scabrough), it's still feasible to work within Metro Toronto.
The China regulation requires a "Certificate of Carrying Money in Foreign Currency" (CCMFC) if you take out money more than equal $2000 (US$). If the amount exceeds $4000 US (equal), the CCMFC should be approved and stamped by the local Authority of Foreign Currency.
The Canadian Customs welcome your money! The more the better. :)