Okay, depends on a couple of things:
if you are going by yourself and you are a poster on this board, I would suggest the hong kong / macau combination, especially this time of the year. Some beach action if you really want it, plenty to do, and macau is a mongering heaven (and HK isn't so bad either).
If you want a decent sunny vacation you can hit any of the islands, or if you are a non-drinker and interested in seeing how the rest of the world lives, try dubai.
I would recommend HK. direct flights from Toronto right now around $1000, hotels are a bit pricy, but you can stay in Macau for a good price. Casinos, saunas / brothels and really good weather.