Skyline Driver 5

My car is smoking white smoke, and it smells like oil, plus I have an oil leak from the pan. The car seems to run fine and smooth but when im flooring it, the turbo sounds like its cutting in and out. I was putting on an FMIC yestereday with Damon from Twin Cam and there was oil in the pipes and in the turbo. Could this be why my car is smoking. I hope its not piston rings or a head gasket? What should I do? If it is the turbo, would this be a good replacement? Your input please.