The simple way -
DECLARE @DATE DATETIME = '2016/07/1'
-- Fiscal Start
SELECT CONVERT(DATETIME, (CAST(YEAR(@DATE) - IIF(MONTH(@DATE) > 6, 0, 1) AS VARCHAR) + '-7-1'))
-- Fiscal End
SELECT CONVERT(DATETIME, (CAST(YEAR(@DATE) + IIF(MONTH(@DATE) > 6, 1, 0) AS VARCHAR) + '-6-30'))