Foot-stool owns punch (7)

I believe the answer is:

hassock

'foot-stool' is the definition.
(I know that footstool can be written as hassock)

'owns punch' is the wordplay.
'owns' becomes 'has' ('have' can be a synonym of 'own').
'punch' becomes 'sock' (I've seen this in another clue).
'has'+'sock'='HASSOCK'

(Other definitions for hassock that I've seen before include "Church property" , "Church kneeler" , "Grass" , "Kneeling cushion" , "Church cushion" .)

I've seen this clue in the Sydney Morning Herald.

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