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Mr Swinney is replacing stamp duty in Scotland with an incremental tax, putting an end to sharp thresholds.
By replacing stamp duty land tax with a new made-in-Wales land transaction tax, public services in Wales will continue to benefit from the revenues raised by this important tax.
Another thought was that councils could take responsibility for the property transaction charge which is replacing stamp duty.
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This tax will replace stamp duty in Scotland from April 2015.
In 2015 the country will replace stamp duty (levied on property sales) with a charge of its own.
The land transaction tax would replace stamp duty land tax from April 2018 if the bill becomes law.
It would, however, reduce the amount of money that could go into the next property being bought, which should help calm prices – and the revenue could be used to replace stamp duty entirely.
Westminster has passed a new Scotland Act that will allow Holyrood to set a different income tax rate by up to 10p in the pound from 2016, to borrow up to £2bn, to control landfill tax (worth £100m) and to have a new property sales tax (worth £236m) to replace stamp duty.
Mr Osborne replaced stamp duty bands with a graduated rate in December, which applied immediately and operate in Scotland until 1 April, when the LBTT replaces stamp duty.
The tax bands will replace stamp duty in Scotland from April.
Mr Osborne replaced stamp duty bands with a graduated rate in December, which applied immediately and will operate in Scotland until 1 April, when the LBTT replaces stamp duty.
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