Qantas Frequent Flyer points have an almost indefinite validity so long as there is activity in the account once every 18 months. Activity is categorised as either earning or using points, however family transfers (to or from an eligible family member) do not count. On the subject of Family Transfers, it is important to note that if an account has never, or not had activity within 18 months and points are transferred into it, they will expire at the end of the month.
Within 60 days of points expiry members will be notified through a message attached to their Activity Statement when logging in, a notification on a paper activity statement for those that still receive them or a hard to find message in the electronic newsletter for members that have opted-in. This can often be overlooked as the notifications are not very well highlighted, resulting in a shock the next time a member logs into their account to find all their points have been taken.
All is not lost if you lose your points though. Qantas quite generously re-credits expired points, sometimes even months after they expire, on request and upon completion of what they term a Reinstatement Challenge or QF Goodwill Points Challenge. Challenges often take on the form of earning a set number of points, through a set number of partners, within a set amount of time. Beyond air travel on Qantas, Jetstar and partners, a quick way to earn a high number of points for a low cost is by purchasing wine with bonus points through Qantas Epiqure.