Aeroplan is having a market fare sale, with tickets from Toronto to Tel Aviv (with a stopover in Montreal) from as low as 46,900 points, from August 8-22, arriving Friday morning, on the 9th. There is unfortunately, a $689 fuel surcharge, but at 45K plus the fuel surcharge at that time of year, it's not a bad deal. For 55K (approx), you can get a direct return to YYZ.
Normally, it goes for 80K, so it's as good as it will get with Aeroplan points at that time of year.
Check it out by booking on Aeroplan.com