UNITED STATES
                             SECURITIES AND EXCHANGE COMMISSION
                                    Washington, DC 20549

                                         FORM N-PX

      ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number:                     811-5473

Exact name of registrant as specified in charter:       Oppenheimer Multi-Sector
                                                        Income Trust

Address of principal executive offices:                 Two World Financial Center
                                                        225 Liberty Street
                                                        New York, NY 10281-1008

Name and address of agent for service:                  Two World Financial Center
                                                        225 Liberty Street
                                                        New York, NY 10281-1008

Registrant's telephone number, including area code:     303-768-3200

Date of fiscal year end:                                10/31

Date of reporting period:                               07/01/2004-06/30/2005

Item 1.           Proxy Voting Record




******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-05473
Reporting Period: 07/01/2004 - 06/30/2005
Oppenheimer Multi-Sector Income Trust









==================== OPPENHEIMER MULTI-SECTOR INCOME TRUST =====================


ATLAS AIR WORLDWIDE HOLDINGS, INC

Ticker:       CGO            Security ID:  049164AP1
Meeting Date: JUL 9, 2004    Meeting Type: Written Consent
Record Date:  JUN 8, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     JOINT PLAN OF REORGANIZATION              For       Abstain    Management


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BROADWING CORP

Ticker:       BWNG           Security ID:  11161E101
Meeting Date: MAY 13, 2005   Meeting Type: Annual
Record Date:  MAR 22, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Joseph R. Hardiman        For       For        Management
1.2   Elect  Director Donald R. Walker          For       For        Management
2     Ratify Auditors                           For       For        Management


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COVAD COMMUNICATIONS GROUP, INC

Ticker:       DVW            Security ID:  222814204
Meeting Date: JUN 9, 2005    Meeting Type: Annual
Record Date:  APR 15, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Charles E. Hoffman        For       Withhold   Management
1.2   Elect  Director Charles McMinn            For       Withhold   Management
2     Ratify Auditors                           For       For        Management


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EQUINIX, INC.

Ticker:       EQIX           Security ID:  29444U502
Meeting Date: JUN 2, 2005    Meeting Type: Annual
Record Date:  APR 21, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Theng Kiat Lee            For       For        Management
1.2   Elect  Director Steven T. Clontz          For       For        Management
1.3   Elect  Director Steven P. Eng             For       For        Management
1.4   Elect  Director Gary Hromadko             For       For        Management
1.5   Elect  Director Scott Kriens              For       For        Management
1.6   Elect  Director Andrew S. Rachleff        For       For        Management
1.7   Elect  Director Dennis R. Raney           For       For        Management
1.8   Elect  Director Peter F. Van Camp         For       For        Management
1.9   Elect  Director Michelangelo Volpi        For       Withhold   Management
2     Ratify Auditors                           For       For        Management


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FLEMING COMPANIES, INC.

Ticker:       FLMIQ          Security ID:  339130AP1
Meeting Date: JUL 2, 2004    Meeting Type: Written Consent
Record Date:  MAY 25, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     REVISED JOINT PLAN OF REORGANIZATION OF   For       Abstain    Management
      FLEMING COMPANIES, INC. AND ITS FILING
      SUBSIDIARIES UNDER CHAPTER 11 OF THE
      UNITED STATES BANKRUPTCY CODE


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GLOBIX CORP.

Ticker:       GBIXQ          Security ID:  37957F200
Meeting Date: MAR 7, 2005    Meeting Type: Special
Record Date:  JAN 19, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Issue Shares in Connection with an        For       For        Management
      Acquisition
2     Adjourn Meeting                           For       For        Management


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IMS HEALTH INC.

Ticker:       RX             Security ID:  449934108
Meeting Date: APR 29, 2005   Meeting Type: Annual
Record Date:  MAR 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director David R. Carlucci         For       Withhold   Management
1.2   Elect  Director Constantine L. Clemente   For       Withhold   Management
1.3   Elect  Director Kathryn E. Giusti         For       Withhold   Management
1.4   Elect  Director M. Bernard Puckett        For       Withhold   Management
2     Ratify Auditors                           For       For        Management
3     Submit Poison Pill to Shareholder Vote    Against   For        Shareholder


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KAISER ALUMINUM & CHEMICAL CORPORATION

Ticker:                      Security ID:  483008AK4
Meeting Date: APR 1, 2005    Meeting Type: Written Consent
Record Date:  FEB 16, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE AJI/KJC PLAN                                    Abstain    Management
2     THE KAAC/KFC PLAN                                   Abstain    Management


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MANITOWOC COMPANY, INC., THE

Ticker:       MTW            Security ID:  563571108
Meeting Date: MAY 3, 2005    Meeting Type: Annual
Record Date:  FEB 23, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Dean H. Anderson           For       Withhold   Management
1.2   Elect Director Keith D. Nosbusch          For       Withhold   Management
1.3   Elect Director Robert S. Throop           For       Withhold   Management


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MCI INC.

Ticker:       MCIP           Security ID:  552691107
Meeting Date: MAY 16, 2005   Meeting Type: Annual
Record Date:  APR 15, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director N. Katzenbach              For       Withhold   Management
1.2   Elect Director D. Beresford               For       Withhold   Management
1.3   Elect Director M. Capellas                For       Withhold   Management
1.4   Elect Director W. Gregory                 For       Withhold   Management
1.5   Elect Director J. Haberkorn               For       Withhold   Management
1.6   Elect Director L. Harris                  For       Withhold   Management
1.7   Elect Director E. Holder                  For       Withhold   Management
1.8   Elect Director M. Neporent                For       Withhold   Management
1.9   Elect Director C. Rogers, Jr.             For       Withhold   Management
2     Ratify Auditors                           For       Abstain    Management


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NTL INCORPORATED

Ticker:       NTLI           Security ID:  62940M104
Meeting Date: MAY 19, 2005   Meeting Type: Annual
Record Date:  APR 11, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director James F. Mooney           For       For        Management
1.2   Elect  Director William R. Huff           For       For        Management
1.3   Elect  Director George R. Zoffinger       For       For        Management
2     Ratify Auditors                           For       For        Management
3     Approve Executive Incentive Bonus Plan    For       For        Management
4     Approve Executive Incentive Bonus Plan    For       For        Management


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ORBITAL SCIENCES CORP.

Ticker:       ORB            Security ID:  685564106
Meeting Date: APR 28, 2005   Meeting Type: Annual
Record Date:  MAR 8, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Daniel J. Fink            For       For        Management
1.2   Elect  Director Robert J. Hermann         For       For        Management
1.3   Elect  Director Janice I. Obuchowski      For       For        Management
1.4   Elect  Director Frank L. Salizzoni        For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management
3     Ratify Auditors                           For       For        Management


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PCI CHEMICALS CANADA, INC.

Ticker:                      Security ID:  693204AC3
Meeting Date: JUN 24, 2005   Meeting Type: Written Consent
Record Date:  MAY 27, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE PROPOSED AMENDMENTS TO THE INDENTURE  For       For        Management
      IS TO MODIFY CERTAIN DEFINED TERMS OF THE
      INDENTURE


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PIONEER COMPANIES, INC.

Ticker:                      Security ID:  72354PAA3
Meeting Date: JUN 24, 2005   Meeting Type: Written Consent
Record Date:  JUN 8, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     AMENDMENT TO THE INDENTURE                For       For        Management


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PIONEER COMPANIES, INC.

Ticker:       PONR           Security ID:  723643300
Meeting Date: MAY 12, 2005   Meeting Type: Annual
Record Date:  APR 5, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director David N. Weinstein        For       For        Management
1.2   Elect  Director Michael Y. McGovern       For       For        Management
1.3   Elect  Director Marvin E. Lesser          For       For        Management
1.4   Elect  Director Charles L. Mears          For       For        Management
1.5   Elect  Director David A. Scholes          For       For        Management
1.6   Elect  Director Richard L. Urbanowski     For       For        Management
2     Ratify Auditors                           For       For        Management


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POLYMER GROUP, INC.

Ticker:       POLGA          Security ID:  731745204
Meeting Date: MAY 18, 2005   Meeting Type: Annual
Record Date:  APR 8, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Pedro A. Arias            For       Withhold   Management
1.2   Elect  Director Ramon Betolaza            For       Withhold   Management
1.3   Elect  Director Lap Wai Chan              For       Withhold   Management
1.4   Elect  Director William B. Hewitt         For       Withhold   Management
1.5   Elect  Director Eugene Linden             For       Withhold   Management
1.6   Elect  Director James A. Ovenden          For       Withhold   Management
1.7   Elect  Director James L. Schaeffer        For       Withhold   Management
1.8   Elect  Director Michael Watzky            For       Withhold   Management
2     Amend Stock Option Plan                   For       For        Management
3     Approve Executive Incentive Bonus Plan    For       For        Management
4     Approve Stock Option Plan                 For       For        Management


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STERLING CHEMICALS, INC.

Ticker:       SCHI           Security ID:  859166100
Meeting Date: APR 15, 2005   Meeting Type: Annual
Record Date:  MAR 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Richard K. Crump          For       For        Management
1.2   Elect  Director Marc S. Kirschner         For       For        Management
1.3   Elect  Director Dr. Peter Ting Kai Wu     For       For        Management
2     Ratify Auditors                           For       For        Management
3     Increase Authorized Common Stock          For       For        Management


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STERLING CHEMICALS, INC.

Ticker:       SCHI           Security ID:  859166AA8
Meeting Date: APR 15, 2005   Meeting Type: Annual
Record Date:  MAR 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     PROPOSAL TO ELECT JOHN W. GILDEA TO THE   For       Did Not    Management
      BOARD OF DIRECTORS OF THE COMPANY.                  Vote


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TELEWEST GLOBAL, INC.

Ticker:       TLWT           Security ID:  87956T107
Meeting Date: MAY 9, 2005    Meeting Type: Annual
Record Date:  APR 1, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Barry R. Elson            For       Withhold   Management
1.2   Elect  Director Michael J. McGuiness      For       Withhold   Management
2     Ratify Auditors                           For       For        Management
3     Approve Executive Incentive Bonus Plan    For       For        Management


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TELUS CORP. (FRMRLY. BC TELECOM)

Ticker:       T.             Security ID:  87971M202
Meeting Date: MAY 4, 2005    Meeting Type: Special
Record Date:  MAR 21, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles Re: 2/3 Majority Vote      For       For        Management
      Requirement
2     Amend Rights of Common and Non-Voting     For       For        Management
      Shares Re: Foreign Ownership Requirements
3     Reconfirm Shareholder Rights Plan (Poison For       For        Management
      Pill)


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TVMAX HOLDINGS, INC.

Ticker:                      Security ID:  87307X104
Meeting Date: APR 26, 2005   Meeting Type: Annual
Record Date:  MAR 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Steven G. Singer          For       Withhold   Management
1.2   Elect  Director D. R. Edge, Jr.           For       Withhold   Management
1.3   Elect  Director Jeffrey A. Brodsky        For       Withhold   Management
1.4   Elect  Director Lauren M. Kreuter         For       Withhold   Management
1.5   Elect  Director Seth P. Plattus           For       Withhold   Management


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UNITEDGLOBAL.COM INC

Ticker:                      Security ID:  913247508
Meeting Date: JUN 14, 2005   Meeting Type: Special
Record Date:  MAY 3, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Merger Agreement                  For       Against    Management


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UNITEDGLOBAL.COM INC

Ticker:                      Security ID:  913247508
Meeting Date: NOV 15, 2004   Meeting Type: Annual
Record Date:  SEP 28, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Robert R. Bennett         For       Withhold   Management
1.2   Elect  Director Bernard G. Dvorak         For       Withhold   Management
1.3   Elect  Director David B. Koff             For       Withhold   Management
2     Amend Omnibus Stock Plan                  For       Against    Management
3     Ratify Auditors                           For       For        Management


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VIATEL HOLDING BERMUDA LTD

Ticker:                      Security ID:  G93447103
Meeting Date: DEC 8, 2004    Meeting Type: Annual
Record Date:  NOV 1, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE AUDITORS  REPORT AND FINANCIAL        For       For        Management
      STATEMENTS FOR THE YEAR ENDED 31 DECEMBER
      2003 HEREBY BE AND ARE RECEIVED.
2     Ratify Auditors                           For       For        Management
3     THE BOARD OF DIRECTORS HEREBY BE AND ARE  For       For        Management
      AUTHORISED TO DETERMINE THE REMUNERATION
      OF THE AUDITORS TO THE COMPANY.
4     S. DENNIS BELCHER HEREBY BE AND IS        For       For        Management
      ELECTED AS A DIRECTOR TO SERVE AS SUCH
      UNTIL THE NEXT ANNUAL GENERAL MEETING.
5     THOMAS DOSTER HEREBY BE AND IS ELECTED AS For       For        Management
      A DIRECTOR TO SERVE AS SUCH UNTIL THE
      NEXT ANNUAL GENERAL MEETING.
6     LESLIE GOODMAN HEREBY BE AND IS ELECTED   For       For        Management
      AS A DIRECTOR TO SERVE AS SUCH UNTIL THE
      NEXT ANNUAL GENERAL MEETING.
7     EDWARD GREENBERG HEREBY BE AND IS ELECTED For       For        Management
      AS A DIRECTOR TO SERVE AS SUCH UNTIL THE
      NEXT ANNUAL GENERAL MEETING.
8     KEVIN POWER HEREBY BE AND IS ELECTED AS A For       For        Management
      DIRECTOR TO SERVE AS SUCH UNTIL THE NEXT
      ANNUAL GENERAL MEETING.
9     LUCY WOODS HEREBY BE AND IS ELECTED AS A  For       For        Management
      DIRECTOR TO SERVE AS SUCH UNTIL THE NEXT
      ANNUAL GENERAL MEETING.


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WESTERN FOREST PRODUCTS

Ticker:       WEF.           Security ID:  958211203
Meeting Date: JUN 15, 2005   Meeting Type: Annual
Record Date:  MAY 12, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Fix Number of Directors at Seven          For       For        Management
2.1   Elect James Arthurs as Director           For       For        Management
2.2   Elect Lee Doney as Director               For       For        Management
2.3   Elect Peter Gordon as Director            For       For        Management
2.4   Elect Reynold Hert as Director            For       For        Management
2.5   Elect John Lacey as Director              For       For        Management
2.6   Elect John MacIntyre as Director          For       For        Management
2.7   Elect John B. Newman as Director          For       For        Management
3     Appoint KPMG LLP as Auditors              For       For        Management
4     Authorize Board to Fix Remuneration of    For       For        Management
      the Auditors
5     Amend Bylaws Re: Procedure for Chairing   For       For        Management
      Board Meeting


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XO COMMUNICATIONS, INC.

Ticker:       XOCM           Security ID:  983764838
Meeting Date: MAY 9, 2005    Meeting Type: Annual
Record Date:  APR 1, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Carl C. Icahn             For       Withhold   Management
1.2   Elect  Director Carl J. Grivner           For       Withhold   Management
1.3   Elect  Director Jon F. Weber              For       Withhold   Management
1.4   Elect  Director Adam Dell                 For       Withhold   Management
1.5   Elect  Director Fredrik C. Gradin         For       Withhold   Management
1.6   Elect  Director Vincent J. Intrieri       For       Withhold   Management
1.7   Elect  Director Robert L. Knauss          For       Withhold   Management
1.8   Elect  Director Keith Meister             For       Withhold   Management

========== END NPX REPORT



                                         SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant):                 Oppenheimer Multi-Sector Income Trust

By (Signature and Title)*:    /s/ John V. Murphy
                              ------------------
                              John V. Murphy, President

Date:                   August 26, 2005

*By:  /s/ Randy Legg
      --------------
      Randy Legg, Attorney in Fact