Most degrees are graded with either a Pass, Credit or Distinction. Most faculties now have standard cutoffs for these grades (well Business and IT do now).
Basically, they will work out your average mark of all of your subjects in your degree. So for IT, your IT subjects and for Business, your Business subjects (so you'll get 2 different averages). A Pass grade is 50-64, a Credit is 65-74 and a Distinction is 75+. Unfortunately, they don't have HD grades which is a bit of a bummer
.
So your degree will read, for example:
Bachelor of Business in Distinction grade
Bachelor of Computing in Distinction grade
or something like that. Forgot the exact wording.