I have 40000 Kris points expiring in 2 months - What else can I do with them since it's not enough for a flight?

There are not enough points here to book even an upgrade. Is there any other way to use these?

Hmmmmm, I hate how Krisflyer points expire. So you can extend them once for 6 months. If you're planning on flying with them soon (or a partner airline) then wait for those points to be credited and see what you can do with perhaps 50 or 60k points.

You could transfer them to Velocity where it is easy to keep them.

KrisFlyer are currently running their 'Spontaneous Escapes’ promotion with 30% redemption discounts to selected destinations in the Singapore Airlines and SilkAir network this month. You'll need to redeem online before June 30 for travel dates in July. For example, your 40,000 points will get you a return trip for 2 people between BNE/ADL and Singapore in economy class. ref: https://www.singaporeair.com/en_UK/sg/plan-travel/promotions/global/kf/kf-promo/kfescapes/

36,500 KF miles is enough for Perth to (nearly) anywhere in Asia with Singapore Airlines business class, such as Hong Kong or Taipei. It's excellent value.

Yep but you will take a hit on the transfer rate of 1.55 and end up with 25k Velocity points

Fancy a short break in New Zealand? From the east coast, 12500 KF miles will get you a one-way economy flight to/from NZ on Air New Zealand. I know that's in economy, but it's only a short flight and availability in ANZ economy is generally pretty good. Alternatively, if you live in or can get to Melbourne, Singapore Airlines flies to Wellington on a fifth freedom flight and again, availability is generally good.

If you are only needing to plan a trip to use the points before they expire then there are options, as above, but, personally if i wasn't planning on a trip yet i would just transfer them to DJ take the hit and have peace of mind knowing you don't need to rush to book something to somewhere you don't really want to go to just yet.

I'd say transfer them over to VA at 1.55 rate and use within Australia on VA

Wanna upgrade my flight on Friday?