You've got it all wrong.
I went to SIBT, I finished with marks between a distinction and credit average.
When I transferred into second-year B.Com-Accg at Macquarie, my GPA was reset to zero, and I was given 24 credit points advanced standing. eStudent still lists my SIBT marks in my course details, so I guess they will be on my transcript when I finish at Macquarie?
Anyway, after first semester of this year, my GPA was back up around a credit average. This mark was good enough for me to transfer into the double-degree of B.App.Fin with B.Com-Accg.
Macquarie do not list it as a pass, they list you as exempt, you'll enter Macquarie with no GPA... which is good if you go bad in the first year, cuz you've got a chance to redeem your GPA, and it doesn't really matter if you went well because after one semester at Macquarie your GPA will be high again, like mine.
Employers will look at your marks. You'll want a credit average, but after you transfer from SIBT to Macquarie, you'll have years to get your GPA up there.
But they'll also look at other shit. You can have a distinction average, but if you're a weedy little asian who speaks broken english and has no social skills, then your perfect 4.0 GPA will mean shit all.
And then, you're stuck up unemployment creek without a Centrelink application form.