Have a read of the T&Cs at https://www.qantas.com/au/en/frequen...onditions.html

The terms do say

14.9.2 Classic Flight Reward tickets issued for travel on Qantas, oneworld Member Airlines or Airline Partners (including Jetstar Airlines) may be submitted for refund and re-credit prior to commencement of travel. Where applicable, only Qantas Points that would not have expired will be re-credited. A Cancellation Refund Fee

I would read through and consider based on the airline that you are booking on as to whether cncellation for refund is permitted