Waters on time (6)

I believe the answer is:

season

'time' is the definition.
(a season is a period of time)

'waters on' is the wordplay.
'waters' becomes 'seas' (sea is a kind of water).
'seas'+'on'='SEASON'

(Other definitions for season that I've seen before include "Add salt, pepper, spice etc" , "Add flavour at a certain time of year" , "eg Winter" , "spring, perhaps" , "Period of a year" .)

I've seen this clue in The Globe and Mail.

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