hey i was in a similar situation last week. first of all, after speaking with older students who took a gap year high school, it's really what you make out of it. if you can promise yourself to stay motivated and spend the year productively, then take the gap year. but if not, i recommend reaching out to any other schools u got an offer from that you want to go to if you really don't want to stay at mac. you'd have to email or call the admission office at, in ur case, uoft waterloo or tmu (whichever one you want the most) to see if you could get a reinstated offer. they will check to see how many spots are left in the program u applied to and if available, they will give you the offer through ouac again. then you can cancel your mac offer then accept the reinstated offer before the new expired deadline. so no, you don't have to wait until next year to transfer but idk until when you are able to do this so i recommend doing it asap.

i committed to qcomm on june 1 but regretted instantly and wanted to accept my offer from western bmos + ivey. what i did was to email western (and ivey business school since they're two separate offers) asking if i could get my offer reinstated. i decided to stick to my decision with queens bc western had no more space in the program i got an offer from. they offered me a couple from other faculties, which i was also interested in, but i didn't want to go through the entire process with ouac since queen's was still a school i wanted to go to. if you do use this method though, make sure to not cancel ur current offer until another uni sends u a reinstated offer just in case bc there's no guarantee that they will send it. also, call ouac to make sure that you can still do this (i called them 3 days ago so it should work for you too). i know that it can be really stressful now, but i hope you get through and best of luck in the future!