Smith's 105 and Labuschagne's 52 helped Australia to 267/5 in 50 overs.
New Zealand captain Kane Williamson won the toss and chose to field first in what is the last ODI for Australia captain Aaron Finch, who had announced his retirement from the format on the eve of the match.
Australia posted 267/5 in 50 overs with Steve Smith hitting his 12th ODI century, off 127 balls and finished with 105 with 11 fours and 1 six.
That six came off the bowling of Jimmy Neesham and was a display of how well Steve Smith understands the game and its rules. It was on the 2nd ball of the 38th over when Steve Smith hoicked James Neesham over square leg boundary for a six.
The interesting thing was that immediately after hitting that six, Smith gestured towards the umpire to count the number of fielders outside the 30-yeard circle as he knew it was a no-ball and asked the officials to call a free hit.
Smith gestured dramatically to the square leg umpire that there were more fielders outside the circle. A video of the same was shared by Cricket Australia on Twitter calling it the play of the day.
Here is the video: