"Now is not my time": Tanya Plibersek drops out from the Labor race

Labor Deputy Leader Tanya Plibersek has decided against contesting the party's leadership ballot, citing family reasons.

Tanya Plibersek says she understands that some people will be disappointed by her decision not to run. Source: AAP

Despite having the support of Bill Shorten and former prime minister Julia Gillard's reportedly backing her, Ms Plibersek

"Now is not my time."

Bill Shorten stood down on Saturday after conceding to the Coalition and is understood to also be backing Ms Plibersek, who has served as his deputy for six years.