According to SQL Server Books Online
Transact-SQL does not support the %TYPE and %ROWTYPE variable data type definitions. A Transact-SQL variable cannot be initialized in the DECLARE statement. The NOT NULL and CONSTANT keywords cannot be used.
Like Oracle LONG and LONG RAW data types, text and image data types cannot be used for variable declarations. Additionally, the PL/SQL style record and table definitions are not supported.
Chalk up another point for Oracle.