Whew, tea covenant expires and will leave us penniless (2,4,4,1,4)

I believe the answer is:

we wont have a cent

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'whew tea covenant expires and will leave us penniless' is the definition.
I know nothing about this answer so I cannot judge whether this works.

'whew tea covenant expires and will leave us penniless' is the wordplay.
'whew tea covenant' anagrams to 'WE WONT HAVE A CENT'.
Though, I'm not sure how this is indicated.

Can you help me to learn more?

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

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