Smith had earlier pleaded guilty to receipt of a secret commission, failing to update his register of interests and misconduct in public office.
All of the offences occurred while he was Logan City Council mayor.
Brisbane District Court Judge David Kent concluded Smith's sentencing hearing on Friday, saying he accepted there had already been "profound" personal consequences for his mental health, relationships, finances, and public standing as a result of the charges.
"There has been a degree of extra-curial punishment in losing your career, being criticised in the media and, generally, public disgrace," Judge Kent said.
Regarding the secret commission charge, crown prosecutor Mark Green previously said Smith acted corruptly when he received a luxury 7.5m 2012 Sea Ray Sun Deck Bowrider boat from a political donor in 2016.
The donor was a director of SKL Cables, which had submitted a development application to Logan Council for a 15-storey building at Springwood.
The council's building height restriction is 10 storeys and prosecutors said Smith obtained the $95,000 boat to progress the development approval for the building.
"The obvious criminality in this is that the receipt of the boat tended to influence you to show favour in relation to the council's affairs to one or more of the relevant entities, namely two separate companies and three persons," Judge Kent said.
Smith later sold the boat for $39,000, spending $19,000 with the rest kept in his account.
"It seems the development did not ultimately proceed," Judge Kent said.
The misconduct charge relates to allegations Smith interfered in the recruitment of Logan Council director Jane Frawley between June and July 2017.
Judge Kent said Smith had undermined transparency in government but Ms Frawley had appropriate qualifications and her recruitment was supported by the other interviewers.
The judge sentenced Smith to 18 months imprisonment wholly suspended on condition he not commit another offence punishable by jail time within the next two years.
Smith was ordered to perform 120 hours of community service for the misconduct charge.