Magic is an integral part of most Fantasy RPGs. However, I feel that magic is a thing best left in the hands of NPCs. Allowing the PCs to have the ability to cast spells is almost always unbalancing to the game. Magic controlled by PCs should be limited to magic items.
As a result of this opinion, there is no official Toast Magic System. If you really want your players to be able to cast spells, I suggest converting your favorite magic system from another FRPG.
The same goes for Psionics.