When you say "it looks like"... where did you see that?
I cancelled a Qantas booking earlier today and received the points back within an hour with no penalty.
Their Fly Flexible policy should apply to you.
"If we’ve cancelled your Qantas flight, we'll rebook you on the next available flight to your booked destination (if possible), at no additional cost to you. Alternatively, you can choose a Flight Credit or a refund. You won’t be charged any change or cancellation fees. For more information visit booking changes and other options.
*Eligible Flights include: Australian Domestic Qantas operated flights booked between 21 May 2020 and 30 April 2022, for travel between 12 June 2020 and 30 April 2022. Trans-Tasman Qantas operated flights booked between 15 October 2020 and 30 June 2022, for travel between 16 October 2020 and 31 December 2022. International Qantas operated and Codeshare flights booked between 25 February 2021 and 30 June 2022, for travel between 1 November 2021 and 31 December 2022 (international flights are available up to 12 months in advance). "
More here:
https://www.qantas.com/au/en/frequen...t-rewards.html