Thanks Michelle! For some reason metric doesn't show value in the KPI, so I have used below approach.
If calendar year is same as fiscal year,
% of Year Complete = CurrentDate("MM")/12
If the number of fiscal periods configured for additional hold open periods 13 14 or 15,then
% of Year Complete = CurrentDate("MM")/PeriodsInYear()
If the calendar year is NOT same as Fiscal Year: our case it runs from July to June so adding/subtracting 6 works.
% of Year Complete =
If(CurrentDate("MM") < 7, (CurrentDate("MM") + 6)/12, (CurrentDate("MM") - 6)/12)