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Drove to Phillip Island from Melbourne with my SE with 112k on the clock. No smoke. Parked on the tarmac on slight inclination facing uphill, did paperwork, lined up for scruitenearing. No smoke. Drove to marshaling area and lined up idling with oil smoke now visible. Took off onto the track with masses of white smoke behind for half a lap then no smoke. Same story for the next session. Oil level down to mid point on the stick. Oil now darker after 10 laps. Topped up. Chief Scruit pays me a visit. Asks what's the plan? I spin a yarn. Thinks it may be a thrust washer problem in the IHI turbo so I parked it backwards facing downhill. Drove to marshanaling. No smoke. Smoke returned aftr 5 min idling. Smoke again for half a lap then no smoke. Drove home. Hard on backstreets. Pulls like a train. No smoke. Any thoughts?

It seams that oil is getting in while parked slightly uphill? Or is it my imagination? Turbo rebuild or replacement? Any recommendations for a new turbo?

A new replacement is possible, but very expensive....

https://www.amayama.com/en/part/mazda/bp8j13700c
https://www.mazdapartswebstore.com/p/Ma ... 3700C.html

For those prices take a punt on a second hand unit or have a chat to Dann about a twist-mount setup.
I believe there are rebuild kits available but not sure it's worth it unless you can do the labour yourself......

Does sound like a turbo let go. You sort of hope it is a turbo, as engine problems are harder to fix.
You'd think a second hand stock turbo from someone upgrading would be cheap as chips.