Good (providing getting half-cut at present) (4)
I believe the answer is:
gift
'present' is the definition.
(synonyms)
'good providing getting half-cut at' is the wordplay.
'good' becomes 'g' (abbreviation).
'providing' becomes 'if' (eg 'providing it's sunny' means 'if it's sunny').
'getting half cut' indicates taking half.
'at' cut in half is 't'.
'g'+'if'+'t'='GIFT'
(Other definitions for gift that I've seen before include "A present or a natural ability" , "Special aptitude - present" , "Present - natural aptitude" , "Endowment" , "Present or special talent" .)