Smith is serving a life sentence he was given in 1996 for the murder of the father of a boy he had sexually abused.
At the time of the murder, Smith was on bail for the sexual offending and charges of blackmail against a man who later killed himself.
He tracked the boy's family down to a Wellington house where they had moved to escape him.
Smith was subject to a minimum non-parole period of 13 years, but his parole eligibility was extended until 2013 after fraud convictions committed in prison between 2006 and 2010.
Since then, Smith has constantly been declined parole, the decision said.
He would next appear for parole in November, when the board would also consider a psychological report.
Smith allegedly fled to South America while on temporary release from Spring Hill Corrections Facility in South Auckland last November.
He was caught in Rio de Janeiro a week after he left New Zealand.
He faces charges of escaping lawful custody and making a false statement to renew a passport.