Crossword Genius

At the moment it's a gift (7)

Ross

I believe the answer is:

present

I'm a little stuck... Click here to teach me more about this clue!

'it's a gift' is the definition.
(present is a kind of gift)

'at the moment' is the wordplay.
I cannot quite see how this works, but
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is found within the answer.
'moment' could be 's' and 's' is found in the answer.
The remaining letters 'preen' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for present that I've seen before include "Introduce formally" , "offering" , "Christmas hand-out" , "host" , "able to be registered" .)

I've seen this clue in The Irish News.
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