Ports Shorts Film Festival is giving the first finalist for this year's festival free accommodation at the event.
The Toronto showing will be the film's world premiere.
The gala awards ceremony was held at Sydney's Chauvel Cinema.
The Gift collects almost $800,000 in its opening weekend.
Putuparri and the Rainmakers has won Australia's richest film prize.
The Australian crosscultural comedy stars Brett Lee and Tannishtha Chatterjee.
Family animation Song of the Sea has edged out Neil Armfield's Holding the Man to take out the Melbourne International Film Festival People's Choice Award.
Matthew Saville's A Month of Sundays and Jeremy Sims' Last Cab to Darwin will screen in the Contemporary World Cinema program at next month's Toronto International Film Festival.