For degrees that have honours integrated into the degree, it usually just means you undertake some research units throughout the degree and have to do a certain amount of research assignments. It's different to a lot of the 3 year degrees (eg: biomed, science, arts, etc.) where you do the degree and then have to get accepted into an honours year where you spend the year doing research and writing a thesis.
I imagine it depends on which field you're working in but unless you're planning to use the specific area you researched in an honours year or whatever in order to get you a job, I don't think it will disadvantage you. If you're doing a degree that will make you a registered professional at the end of it, having honours or not having honours doesn't really make an impact because as long as you meet the requirements for registration you're all good.