During the last decades, the search to try to understand why Australian teachers prematurely leave their jobs has become an increasing focus of research interest. This article yields significant insights into the history and potential future of the teacher attrition research field. Using a thematic content analysis methodology, a study of the Australian literature reveals that the field in this country is still in its infancy, and is dominated by small-scale, qualitative exploratory studies. Furthermore, it shows the lack of consistency amongst studies discussing teacher attrition, as well as the need for a theoretically informed framework that acknowledges the complex nature of teacher attrition. To fill this void, the authors propose a new theoretical model, arguing that teacher attrition is a complex phenomenon, a product of the interaction of elements from social capital, human capital, positive psychological capital and structural capital intersecting.