http://www.audioresearch.com/ContentsFiles/VT50_SchemPL.pdf
Scroll down the page to the drawing of the primary winding side of the transformer.
The primary has dual windings so it can be connected to 120V or 240V mains. (Parallel for 120V. Series for 240V. The change must be done internally inside of the piece of equipment.)
Note only one fuse is used. The HOT conductor, be it, 120V or 240V connects to the Line side of the fuse.
The neutral conductor, (The Grounded Conductor), connects to the other Line lead of the of the configured primary winding of the transformer.
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Some audio equipment have a switch mounted on the back panel to switch from 120V to 240V Can’t get any easier than that.
BUT, BIG BUT.... The AC power that you connect to the equipment must have only one Hot ungrounded conductor and one Neutral conductor, (The Grounded Conductor). That is the AC power system the manufacture, of the equipment, designed it to be connected too. Not 2 Hot ungrounded conductors as your electrical service panel has.
My understanding is the mains power you have in Canada is the same as here in the US.
120/240Vac The Utility power transformer has three output legs, conductors, wires, that feed your home.
At the main service electrical panel you have 2 HOT ungrounded Lines, Legs. They are called Line 1 (L1), and Line 2 (L2). If you measure from L1 to L2 you will measure 240Vac nominal voltage.
The third wire that comes into the electrical panel is called the neutral conductor. This wire is common to both L1 and L2. If you measure from either L1 or L2 to the neutral conductor you will measure 120Vac nominal.
By NEC Code the service entrance neutral conductor must be intentionally connected to earth. This makes it the Grounded Conductor. (There is a lot more that has to be done than just saying it must be connected to earth. For simplicity lets just leave it at that).
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For you, I see no advantage of feeding 240Vac power to a dual rated 120/240V piece of audio equipment. Even if you use a transformer to create a neutral conductor to feed the 240Vac equipment. It will not sound any better and in fact it could sound worse if the transformer is not sized properly.
Feeding it directly from the main electrical panel with the 2 Hot, L1 and L2 Lines Is, I would guess, a safety code violation in Canada. I don’t know if it is or not though.
Might it sound better? Don’t know. It would be as some call it, fed from balanced power.
Would it be safe? No not in my opinion as well as gs5556, as explained above in previous posts.