Visa 491 permits you to stay in Tasmania for up to five years and work there. After you’ve resided in Tasmania for at least three years and earned a minimum taxable income that matches the Department of Home Affairs’ minimum threshold (currently set at AU$53,900), you can apply. Then you can apply for permanent residency (Subclass 191 Permanent Residence) in the United Kingdom.

Tasmanian Graduate (Category 1):

You must fulfill all of the following requirements to be considered for this category.

You must have completed and graduated from a CRICOS-accredited Tasmanian tertiary institution. A degree (bachelor’s or above), a certificate (standard, advanced, associate, or graduate), or a trade qualification (minimum Cert III level for a skilled occupation in ANZSCO Major Group 3) must be completed.
must be for a minimum of one academic year (40 weeks)
You must be full-time and on-site in Tasmania; you must have resided in the state for at least one year throughout your studies; you and your dependents must be currently residing in Tasmania, and you must be able to demonstrate your true commitment to the state.