score:6
You are covered by both the 'Right to care' and 'Compensation' sections of EU261, due to the fact the airline you were flying was an EU carrier - and all EU carriers are covered by EU261 regardless of where the flight is to/from.
'Right of care' means that regardless of the reason for the delay they are required to provide you with accommodation, transportation to the accommodation, and relevant meals during your delay.
'Compensation' will depend on the reason for the delay, but in most cases you would be eligible for 600 Euro compensation based on the length of the flight, and the length of the delay - which in this case is the full 24 hours as that is how long you were delayed.
There are some exceptions for compensation that fit under the banner of "extraordinary circumstances", but these have to be things that are truly extraordinary, and completely outside of the control of the airline themselves. Something like the inbound flight being delayed would almost certainly NOT be considered extraordinary - but as you haven't stated the reason for the initial delay it's not possible to comment on whether you would be covered or not.
Upvote:3
It matter the delay at YYZ, so around 24 hours. This is what you paid, and what it is in your tickets. Rebooking give you boarding access to the new flight, but it doesn't change the contractual ticket.
Note: often they will find an other flights (possibly connecting to an other airport): it is often cheaper compared to let you wait 24 hours, and so paying you hotel and meals. For compensation of delays, you will have to fight (usual excuse: unforeseen problem, outside their control), but for hotel and meals they should pay you at airport, so this is a real expenses for them.