Increases calcium absorption from the intestine - via active transport mechanisms. It increases the synthesis of Calbindin (Calcium binding protein) which transports calcium from the lumen to the Vitamin D activated Calcium ATPase pumps on the basolateral membrane of the enterocytes (secondary active transport).
Increases phosphorous absorption from the intestine - Phosphorous is found in grains, and is absorbed in the small intestine via active transport which responds to calcitriol.
Decreases Calcium and Phosphorous excretion via the kidney - Calcitriol acts on the renal tubular epithelial cells to increase calcium and phosphorous reabsorption from the nephron. This action is WEAK compared to the PTH action (which acts to reabsorb calcium but lose phosphorous from the nephron).
Normal bone functioning (osteoclast and osteoblast functions) - Calcitriol is needed for normal bone absorption and deposition. Without Vitamin D3, bone is not resorbed in response to PTH.