The incident, which involved 35 people onboard, resulted in no injuries despite a similar balloon collision in the same area killing 13 in 1989.
The ATSB report into the incident in February last year concluded VH-SEH struggled to clear the trees at the end of the runway after taking off in Seaview, Victoria.
A final investigation revealed the most likely explanation was that Stewart Wavill simply misread the altimeter, but no definitive conclusion could be reached. The accident killed the pilot and four onboard.
The most significant alterations mean that there will now be four different categories of aircraft operations, with different reporting requirements for each, plus a new push for sport aviation bodies to alert authorities to incidents.
The findings form part of the ATSB’s preliminary investigation into the incident in August that killed all three onboard, though no definitive conclusion to the accident's cause has yet been reached.
It comes months after it was revealed a wedge-tailed eagle was behind a separate crash that killed a pilot in Sydney in July. The investigation is only at the preliminary stage, with a final report set to be published later.