Oliver was banned in November for 10 months after admitting to placing a A$10,000 bet via a third party on a rival horse.
Smerdon was charged for passing on the proceeds of the bet to Oliver and a three-man Racing Appeals and Disciplinary board found his conduct prejudicial to the image of racing.
Oliver, who twice won the Melbourne Cup and completed the grand slam of Australia racing with wins in the Caulfield Cup, Cox Plate and Golden Slipper, admitted to placing the bet on favourite Miss Octopussy in a race in October 2010.
Miss Octopussy won the race while Oliver's mount Europa Point, the second favourite, finished sixth.
Jockeys are forbidden from betting on any horse races in Australia, let alone on races in which they ride.
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