Smith reached his fourth Test hundred of the year before a storm lashed the Melbourne Cricket Ground just before tea and forced the rest of the fourth day's play to be abandoned.
Smith was unbeaten on 100 with Mitchell Starc not out seven inAustralia's 465 for six.
It is unlikely there will be a result in the Test with just Friday's final day to play.
The Australians were hoping to build a 100-plus run lead to try and put the tourists under pressure on the final day in the weather-disrupted Test.
"We were planning to play a little more positively this afternoon and try and get as many runs as we could, but the rain hasn't helped us," Smithsaid.
"So now it's about summing it up in the morning and seeing where we can go.
"It's obviously going to be difficult to get a result, the wicket hasn't broken up much and it's playing well."
Smith passed 1,000 runs in a calendar year for the third time in a row during his knock, taking his 2016 total to 1,040 at 67.60 with his patient 100 not out coming off 168 balls with nine boundaries.
Usman Khawaja was dismissed three runs short of his century early in the day, the second time this season that the Pakistan-born batsman has been dismissed on 97.
Khawaja had added just two runs to his overnight 95 off 12 balls when he edged Wahab Riaz to wicketkeeper Sarfraz Ahmed in the day's fifth over. Khawaja left the ground with his head bowed.
Khawaja also missed out on a century against South Africa in the second innings of last month's first Test in Perth.
The Australians lost the wickets of under-pressure pair Nic Maddinson and Matthew Wade in the middle session.
