What's the Correct Time?

Toronto time is 1514:42 hrs EST

EST = (UTC - 05:00)

Local date is Tuesday, 3 March 2015
Coordinated Universal Time is 2014:42 hrs GMT

Clocks are to advanced by one hour
at 0200 hrs on Sunday, 8 March 2015 ,
and clocks are to be retarded by one hour
at 0200 hrs on Sunday, 1 November 2015.

When to Change Clocks in Other Areas in Canada

About Daylight Saving Time
Canadian Time Zones and Daylight Saving Time
United States Naval Observatory Precise Time
The World Clock - Time Zones